Side-by-side comparison of ES1! and NQ1!. I'm proposing that both have impulse waves down from their ATHs to the lows of last week.
Areas in orange ellipses show ES1! holding its low and NQ1! breaking its low. I'm interpreting this as evidence that each bounced off their lows with corrective structures, ES1! with a regular flat and NQ1! with an expanded flat. With this in mind, the impulse waves up that we've had this week would need to be interpreted as part of larger corrective structures.
I think odds are better than a coin flip that equities roll over for more lows, with key support for ES1! at 5104.50 and NQ1! at 17668.25.
Areas in orange ellipses show ES1! holding its low and NQ1! breaking its low. I'm interpreting this as evidence that each bounced off their lows with corrective structures, ES1! with a regular flat and NQ1! with an expanded flat. With this in mind, the impulse waves up that we've had this week would need to be interpreted as part of larger corrective structures.
I think odds are better than a coin flip that equities roll over for more lows, with key support for ES1! at 5104.50 and NQ1! at 17668.25.