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Dow cash may open at the overnight futures low which is
a hefty drop but would align cash and futures and that
has not happened as much as you might think it would.I wonder if the risk seesaw is about even / level.
I feel more nervy about today reminded of
that saying ‘something evil this way comes’.Never give up, never surrender.
Just noticed that when the US cash opens all majors will be
at or near their current lods.Dow Spx Nas Dax Ftse and Aus futs … all go hand in hand.
Never give up, never surrender.
Dow S2L
That is based on no flip and using the sequence from
days when it was much clearer to see STD lean.Never give up, never surrender.
SPX: although the Dow has reached an area of possible support, SPX is still some way above that area. It *might* try to decline to 3,030 or so (or not)… Note that Dow, RUT and NYA have all crossed an overlap of support. SPX and COMP have yet to do so..
Well that was quick…
Big round number undershoot then overshoot
for Dow 26000 and Spx 3000 today.Never give up, never surrender.
I am taking friday and monday away from trading
to give me a four day weekend.Never give up, never surrender.
Dow alternative view is that there’s a B wave triangle thing around 27,000 and the market is now falling in fives for ‘C’. In which case the target is around 24,550.
So, taking the two options, the target box is between 24,550 and 24,970. It will be interesting to see if this box gets hit on or around the Bradley date of March 3.
That would allow for spx to close above 3000 today,which would leave hope of the decline ending before another slapdown next week.very plausible imo
Dow is approaching my lower target area around 24,550.
We have the weekend, then the Bradley date of Tuesday March 3rd.
Watching for some sort of 5th wave down. Might be an overlapping thing because a bit more time is required.
Daily RSI is very oversold.
Dow is faltering around the target area. It reached 24,650, just shy of the target at 25,550. It’s possible that the decline is complete, although also possible that a 4th wave is forming.
Tuesday is the Bradley (not that Bradleys are reliable) and we *might* see a final 5th pop lower and reversal. Alternatively the pattern is complete and Monday will see a sharp recovery.
On the daily the Dow is showing an impressive ‘hammer’ reversal, suggesting that a low has been reached. However the hammer lows have a habit of being retested.
If this is a completed ABC – *if* – then one should expect an overlap attempt of ‘A’ in the 27,000 area.
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