On an analysis earlier that I published, the DXY may be ready for a retracement to the previous wave low. Now reeling back in on the VTI Looks like we may be close to being done with the C phase on this timeframe. Wave C has so far retraced Wave B up to 161%. I don't want to get too greedy until we see economic indicators start to peak out. However, I would like to see if we could reach the 38% retracement of Wave C in the near future. We still ended the week with large sell volume. However, on the 12 hour time frame, some of that sell volume has started to weaken down a bit. We may be early on this assumption. The K and D of the RSI has reached an oversold point. They haven't crossed up past the 20 level just yet. The MacD has crossed the zero line but hasn't shown any indication of momentum shift just yet. I want to be careful with price targets here so I will only keep it at the 38% level for responsible trading. Let's see what happens!
What do you think?
What do you think?