The ES daily futures got within 90% of the prior high, qualifying for the 'b' wave of a Flat, or the next impulse, higher.
The upward wave 'currently' counts best as a double zigzag. That could change. But the wave is high enough to wonder a little bit about a truncation.
One might want to keep an ear out for the news over the long weekend.
Have a good one.
TraderJoe
It's a positive development that MSFT, GOOG, META, NFLX, AMZN and others keep trending lower while the market made a small new high. Very similar to March 2000. That event started a minor 83% correction in the QQQ.
ReplyDeleteThe market only rallied to fill the down gaps on the SPX, QQQ, and SMH. This was an important day.
DeleteYes indeed! There is no no overhead "unfinished business". Was hoping to see an outside day, but who knows, a truncation entirely possible. Remember the ones who gave their "last full measure of devotion" for their country.
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