US INDICIES: So far a normal retrace.

Current drop is now same in magnitude of the previous large drop in Dec, 2019. A critical resistance at ~8350 defines whether this was again, a standard pull back or a larger ABC retrace.

This ABC retrace is only valid if:

• Upwards rally doesn't maintain above ~8350 for 3+ days.
  
• If it shoots past ~8360, stop is here. If this partakes, corona virus was again the hype catalyst and not an actual market mover scenario.
  
• Wave B to C must fall past the 2/1 Gann line or else upward trend will continue for the time being.
  

Also this thing can just shoot down another couple hundred points. Hoping for this tbh.


Not investment advice.

Bình luận:

It just shot down 300 points! DJI down ~900! (As of 9:59pm EST). Still lots of volatility, expect this to average out by market open and drop further near close.