Well, you had the right read for yesterday, that's for sure. We got a clean three-waver off the low, with A=C in both NDX and SPX. So the question is:
1.) Was that the entire 'ii' and we head down hard from here,
2.) Was it 'a' of a larger correction, which means probably a pullback before some more up, or
3.) Do we get a wiggle 'v' up this morning, then a pullback.
I don't favor 1, and don't care much whether it is 2 or 3 as they are the same except for the mini-wiggles.
BTW - I used to have a "system" based on waves and fibs. Not exactly ewave, but a close cousin. But it required precise patterns for trade entries, and they just don't show up often enough to trade it regularly. I even had a newsletter, like everybody else and their brother, lol. |
