The market has seem to hit a fork in the road. Is this a clean 5 waves off of the early March lows or simply a larger abc correction setting up for an a=c move?
If today was indeed the top of blue wave 3 a pullback over 3890 should be viewed as a buying opportunity with the next target being resistance from 4010-4050. A sustained break of the bottom of the pivot at 3890 and we will begin to feel some gravity.
The green count provided for a clean a=c correction if we topped the morning session at the top of the trendline. We wound up breaking out of the trendline today only to come back and retest the upper level of the pivot. Though the rally today has lowered the probability of the deeper pullback to green (c), the count is still valid.
-Friendly reminder not to doubt a bull market.
First chart vibes
If today was indeed the top of blue wave 3 a pullback over 3890 should be viewed as a buying opportunity with the next target being resistance from 4010-4050. A sustained break of the bottom of the pivot at 3890 and we will begin to feel some gravity.
The green count provided for a clean a=c correction if we topped the morning session at the top of the trendline. We wound up breaking out of the trendline today only to come back and retest the upper level of the pivot. Though the rally today has lowered the probability of the deeper pullback to green (c), the count is still valid.
-Friendly reminder not to doubt a bull market.
First chart vibes