i have been waiting out this 5th wave up since Sunday. Everyone speaking in the room I was in was bearish at the close, because we have been going down for days, and went down at the close... hey all that noise was wave 4.
4th wave is corrective, check, complex (5 waves inside it), and counter trend... Run a weekly chart on ES, the trend is still UP,, until it isn't.
We could easily make a new all time high on the next bullish day.... and that trend has reversed for 2-3 weeks, fridays down, mondays up is the norm, we deviated, so friday could be an up overall day. stay frosty.
4th wave is corrective, check, complex (5 waves inside it), and counter trend... Run a weekly chart on ES, the trend is still UP,, until it isn't.
We could easily make a new all time high on the next bullish day.... and that trend has reversed for 2-3 weeks, fridays down, mondays up is the norm, we deviated, so friday could be an up overall day. stay frosty.
Nota
This idea proved false so far ignore itNota
it's been 4 days, and the 4th wave down finished as a double bottom, soon this market completes wave 5 of 5 waves IMO matching the top of the diamond pattern i shared
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