We're going down shortterm
It looks like we found the top of wave B, the question now is how far will we move down for wave C. I could see the markets going down to 3000 to test support for wave 1 of wave C, and then bounce back up to 3100 for a wave 2. Since friday and monday typically are bullish days i can see that wave 2 will mainly happen tommorow and then a little into monday. Wave 3 will probably be a large drop untill around 2900-2800 but we will just have to wait and see.
0.618 retracement level is around 2600 so we could even see it moving all the way down there even though i doubt it.
0.618 retracement level is around 2600 so we could even see it moving all the way down there even though i doubt it.
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