Despite a small flash-crash of a few minutes, the market continues its intraday uptrend.
The alternative scenario is invalidated; the breakout of 1574 increases the probability that the rebound will continue and that the top of April 11 is not a Cycle top.
I remember that my long-term alternative scenario considers this top as Alt:y wave of intermediate degree, in harmony with the bullish outlook of DJIA preferred scenario.
The alternative scenario is invalidated; the breakout of 1574 increases the probability that the rebound will continue and that the top of April 11 is not a Cycle top.
I remember that my long-term alternative scenario considers this top as Alt:y wave of intermediate degree, in harmony with the bullish outlook of DJIA preferred scenario.
Main count: we are in [c]/[y] wave of b/x minute wave; perhaps a flat / three or triangle is underway.
Have a great trading day ... with care!
ElwaveSurfer
So how do you think, where market is going now?
ReplyDeleteHi Pawel,
DeleteShort-term preferred scenario; I confirm that I think we could be in [c]/[y] wave of b/x (red) minute wave; perhaps a sideways pattern, such as a flat, a three or a triangle of minor degree is in progress.
Medium-long term:
preferred scenario down wave(a/w)of intermediate degree = neutral/bearish (60%); the probability is still low for open short positions (the risks is too high);
alternate scenario (Alt:x) of intermediate degree = neutral/bullish (40%).
Instead for short-term trading is not very important where we are because there isn't a valid and clear pattern setup, so I stay out of the market as long as it is not built.
Regards.
ElwaveSurfer