"Impulse" is a surge that creates "Ripples", like a pebble into water. "Impulse Redux" is returning of wave to the original source of energy. "Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the sellers still there? Enough to absorb the buying power? Reaction at Impulse is worth observing closely to gauge energy. Rejection is expected on at least first approach if not several.
Zoom in (m1) Reactions at all of the fibs add to our confidence in the Core. And if it rejects again, we can expect the extensions to react. And if it breaks, then we can assign a lot of strength to bulls.
.
SUMMARY: - Rejecting again from the Core. - The annual event not yet remarkable. - Bears likely to hold the Core a little longer.
Zoom in (m5) The Pings on the 0.618 was Bears' Best Chances. Even the Apple "event" was only able to Ping the core. But next day the bull stampede blasted thru the core.
.
We can watch for a retest but this Impulse is probably dead.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.