What I think is going on - the path to 4200 still very possible this week or next with the economic numbers. This is a quick look at SPX, IWM and XLF
Good luck and see you during the week!
Good luck and see you during the week!
Comment:
good morning - 4k still looks correct but 4050 is 1:1 A to C measurement, so maybe we fall a little short of 4k.
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spy target is about 403-402 area.
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We're still in a B wave as far as I can tell. Yellen speaks tomorrow and if I'm right the market will drop either before or during her talk.
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SPY at upper resistance with 4 hr bear divergences now.
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with the spx rsi this low, another C up with the announcement is entirely possible. Shorts need to be careful
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weekly target still above, we could fall short though, for sure. This does feel like a C wave
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steep 4 hr bear divergence on futures this morning. no guarantee's that the uptrend is over, but I think we are very close.
Comment:
right now this looks like a false breakout. stops above last high are optimal if a short position is taken.
