Today the market continued it's march higher. After completing wave (iv), prices rallied into the close in what may be wave iii of (v) of c of ii (circle). So my expectation for tomorrow is almost identical as today. Look for a minor decline- followed by a final push up. There are two remaining gaps. One at 1070 which is almost certain to be closed tomorrow since the current wave up doesn't count 5 waves. The other lies at 1082.5 Each are labeled with grey lines. There are several wave ii (green) termination points that can now be determined (see attached chart). Once complete, the market should be in a 3rd of a 3rd which should bring prices swiftly below 1006. When wave iii (circle) begins, I'll be watching the market's reaction very closely to see if the price action meets the personality of a 3rd of a 3rd wave. Maybe that's a discussion for the weekly wrap up. Let me know.
Best of Trading!
No comments:
Post a Comment