Dow Transports did rally into the 0.50% fib.
The nature of the decline that is coming will be crucial .
If the Transports do not manage the following week to keep above the red VTL line and even worse they broke the cycle low at 10039 ,
then the decline will be steeper .
It all has to do with the correction that is coming.
If the correction is minor we would expect a higher high bounce after that
If the correction is steeper then the bounce will be minimal to 23-38% fib before resuming to lower prices.
The nature of the decline that is coming will be crucial .
If the Transports do not manage the following week to keep above the red VTL line and even worse they broke the cycle low at 10039 ,
then the decline will be steeper .
It all has to do with the correction that is coming.
If the correction is minor we would expect a higher high bounce after that
If the correction is steeper then the bounce will be minimal to 23-38% fib before resuming to lower prices.