DJT @ 3rd green wk. WHY it may be making abc zigzag down
Atualizado
Although transportation looks bullish now with 2 green weekly close after a big plunger, I still think this is just the b counter wave & there is one more c wave down to my green zone. There are still overhead resistances at various VWAPs.
Transports, like IWM small caps, is a very impt leading indicator of our economy. With oil cost rebounding & labor difficulty adding to a slowing economy due to supply chain crisis,, things just dont turn around in a flash although medium & longterm is still bullish.
Transports usually peaks out way way ahead of SPX. With transports seem recovering, I think SPX will still make a new high in 2022.
Not trading advice
Transports, like IWM small caps, is a very impt leading indicator of our economy. With oil cost rebounding & labor difficulty adding to a slowing economy due to supply chain crisis,, things just dont turn around in a flash although medium & longterm is still bullish.
Transports usually peaks out way way ahead of SPX. With transports seem recovering, I think SPX will still make a new high in 2022.
Not trading advice
Nota
In addition, DJT will also encounter resistance at the upper side of an expanding wedge which coincides with the upper boundary of my pitchfork. This, together with the many VWAPs may force DJT down again back to the green zone where the dotted median of pitchfork lies. That will complete wave c of the zigzag down.Notice also the 2 previous 2 abc zigzags. Altogether they make the big ABC corrective wave before another impulse wave.
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