Hi traders,
Overview: my bullish count invalidated today, however, it was not surprising to us according to the note I wrote on yesterday's update: "this week is going to be very volatile with all big tech ER and FOMC on Wednesday. If we break the lower black trendline, the count is invalidated and the market has already topped, going for new lows (leg Z). In that case, the best is to wait for the retest of the trendline to enter bearish . Until then, our count is the main plan."
Update: today, the lower trendline broke decisively and as noted yesterday, we got a perfect retest and rejection of it (the market has topped). Looking at the hourly count, we are currently in wave (II) of a of Z.
Overview: my bullish count invalidated today, however, it was not surprising to us according to the note I wrote on yesterday's update: "this week is going to be very volatile with all big tech ER and FOMC on Wednesday. If we break the lower black trendline, the count is invalidated and the market has already topped, going for new lows (leg Z). In that case, the best is to wait for the retest of the trendline to enter bearish . Until then, our count is the main plan."
Update: today, the lower trendline broke decisively and as noted yesterday, we got a perfect retest and rejection of it (the market has topped). Looking at the hourly count, we are currently in wave (II) of a of Z.
