Chart update to include additional price prints. See intraday update for descriptions.
[Intraday Update, 1:20pm NYSE]
There is more clarity with additional price prints.
Tracking counts
The near term low is in - purple
Bull trap - red and Chart 2 (expanding EDT yet to complete)
Killing time - blue wave [4]-up
TUES 24 March Comment
ReplyDeleteThe scramble for stks with the gap up and breaking out of the downtrend line against tops since 4 March (which MTU hasnt drawn in) shows that buying in an approximate zone where there is possibly a 5 wave ending on the lower channel line yields results as the early bird gets the worm.
How long this move will last is the next q and while my own forecasting method has an answer to that nothing is guaranteed.
The overall view we do see is that from the 13 March peak close we see 3 sections down, and the same from the 4 March peak hence the reversal so far. And either 3 or 5 sections down from Jan.
Mkt has just past 21 March equinox.
Err - that should have been 2 or 3 sections down from Jan.
ReplyDelete