Since I1 bottoms tomorrow it's time to set an initial target. DJI cash 10,410 would be above the top of the A wave. Breaking this would open up decline to 10,270. I want to stay short until late afternoon. The SP futures target of 1095, then 1085. Either of these would allow me to exit my trades showing a profit for the period from Thursday on.
So tomorrow should bottom out and then you'll go long?
ReplyDeleteI'm sorry but could you please clarify your current count in the larger scheme of things? Are you still counting this as being in minute 2, or has this rally now been labeled minor 2? How high do you expect the rally to get as I1 starts turning up again? thanks.
ReplyDeleteSO would this downward move complete tomorrow and actually be wave 4 within a 5 wave move to complete C?
ReplyDeleteI'll be going long at the close. While I will not be changing the wave count immediately (it still considers the Minute2 high as 10,594) I consider it highly likely that the I1 uptrend starting after the close today will take it out. I would consider this downward move as a wave 4.
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