Wave A of bounce potentially finished. SPY, SPX, ES
Updated
It appears we have a 5 wave structure in our bounce higher this structure if 5 waves should fail in this redbox. If not and we continue higher we could have seen a WXY from 2560 down to 2400 over night (march 25&26) and that would suggest that the bounce of A will extend all the way to 2800. - so keep that in mind. We will likely fail in the redbox but it could be bought and resume higher if WXY is true around 2480... If 2480 gives up then we likely have see the full A wave higher and should see the next leg higher Wave C start around 2350ish.
Comment
Well we got the rocket rip into my zone which is bearish... I think this will fade into at least a W2 down in the worse case to about 2500 before higher... However if that was the end of A the target is 2350... I shorted that rip as it hit my red line above and took profits already given the futures closing period. I will potentially renter short this evening or once we show some real movement down.
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