I am anticipating a decline further tomorrow to complete wave e/E of the nested expanding triangles as illustrated above, which serves as a shakeout, followed by a rally into 12/57 - 1267 area until cycle high turn date between 12/24 - 12/27, which also coincidies with the new moon. After that, a meaningful down leg may unfold which is potentially a C wave that can challenge the Oct 4 low. The severity of the C wave will depends on where B wave finishes. If B finishes about the same level as the origin of A, then C wave will be mild and may not reach Oct 4 low.
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ReplyDeleteI am anticipating a decline further tomorrow to complete wave e/E of the nested expanding triangles as illustrated above, which serves as a shakeout, followed by a rally into 12/57 - 1267 area until cycle high turn date between 12/24 - 12/27, which also coincidies with the new moon. After that, a meaningful down leg may unfold which is potentially a C wave that can challenge the Oct 4 low. The severity of the C wave will depends on where B wave finishes. If B finishes about the same level as the origin of A, then C wave will be mild and may not reach Oct 4 low.
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