update on the patterns I'm seeing, expecting a pullback this morning and then sudden rally for everything.
Commento:
expecting something like this.
Commento:
first part of B is over, next should be C of B down, It could go over the high first.
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3730 area looks like the target area.
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Powell live www.youtube.com/watch?v=dOE0r10F...
Commento:
Stops above previous high taken out, should reverse here
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ok there we go
Commento:
Longs now trapped in the boxed area, as stops get hit and traders sell their positions, 3700 should come quickly on SPX
Commento:
looks like they are creating a B triangle instead, which should be done by open tomorrow. So a gap up tomorrow morning with C already starting.
Commento:
SPY
Commento:
if the triangle doesn't work, the ABC for B would, Either way. I'm going to wait for tomorrow to see where the market is at open. If it gaps down, It's likely a bear trap with C next. If we gap up, C is likely in progress.
Commento:
I think the end was a bull trap and we'll gap down tomorrow. Any gap down should be bought at some point to start the C wave up.
