Just a chart today with the wave label degrees continued from yesterday. We don't know wave v is over yet and it could become longer than iii.
Wave v can still be whippy, so care, caution and flexibility still needed. The outside day up is valid unless the low is exceeded in the next two trading sessions.
Have an excellent start to the evening,
TraderJoe
I'm confused by this chart's labeling - did we not just complete the a wave down of primary degree wave 4?
ReplyDeleteHuh?
DeleteMore likely 1 of A. Now 2 up at Minor degree.
DeleteTJ is vacillating between (i) [circle i) and A. He want to leave open the option that 'A' could extend. I'm thinking that we are in the 'B' rebound, the first wave up, an a-b-c wave, and we are in the 'c' part of that.
DeleteI had a b wave at yesterday low.
DeleteI may have rush the gold count, pun intended. Here it is with taking a bit more time.
ReplyDeletehttps://imgur.com/oRPkirr
It is still in a corrective channel for now. The reason for the longer account above is the second leg of the decline was bigger than the first from the ATH so a 1, 2, i, ii down does not have great odds.
Deletespx cash only a few dollars from the 18ma. C of a B wave completing?
ReplyDeleteFNGU: https://www.tradingview.com/x/LHR5YxGO/
ReplyDeleteGold trying to hold mid line in corrective channel. This is the second corrective channel since the ATH. I am not sure if that was the top, how these corrective channels would work in a impulse down because the second leg down was longer in time.
ReplyDeletesorry, price
Delete18ma daily held on QQQ, IWM, and SPY cash - have a great weekend!
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ