Bulls unexpectedly scratching and clawing back against the bears today. Bulls may have potentially kick stated an impulse wave going up at least temporarily. Seeing waves 1-3 already formed, waiting for completion of wave 4 before going higher to complete wave 5. For long traders, the safe bet would be to wait until it clears above wave 3 at around 7500 before entering into long.
Riskier traders could attempt catch the bottom around the green box to anticipate continued upward momentum. Trade with caution, a break below the green box would invalidate the uptrend count and we will be seeing lower lows.
Riskier traders could attempt catch the bottom around the green box to anticipate continued upward momentum. Trade with caution, a break below the green box would invalidate the uptrend count and we will be seeing lower lows.