There hasn't been much change in the outlook since last week, but the market has been doing a lot of racing without getting anywhere. We're still looking for a much larger correction to ensue as can be seen via the linked IT and LT charts, but with every larger move, they take time to develop which frustrates all participants and ultimately has them wrong footed which creates the imbalance for the move. There is potential for more up to 2120 zone as the double retrace mentioned a couple weeks ago as a result of the extended fifth wave (magenta 5) could still be playing out so caution is warranted if one is hunting for shorts. Good luck today and profitable trading. Below is the link for key timing and projections.
mcm-ct.com/blog/intraday-projections-now-everyone-is-confused/
If you have any questions about our analysis or any of our analysis systems, contact me at any time at john@mcm-ct.com
mcm-ct.com/blog/intraday-projections-now-everyone-is-confused/
If you have any questions about our analysis or any of our analysis systems, contact me at any time at john@mcm-ct.com
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Disclaimer
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.