Next Top Is...
Minor wave 1 may have finished today, slight chance of it finishing if a new low occurs shortly after the open tomorrow. For now, Minor wave 1 was 3 days. Wave 2 will likely be similar in length. Historical relationships point to a possible top around 4000.
There is not much news until the Fed so we could meander upward for a few days while we wait. I do expect Minor wave 3 to be a very sharp drop in the order of 300+ points over 3-6 days which would be fueled by a larger than expected Fed hike and/or hawkish comments afterward.
Minor wave 1 has been eventful so far, we shall see what happens next.
There is not much news until the Fed so we could meander upward for a few days while we wait. I do expect Minor wave 3 to be a very sharp drop in the order of 300+ points over 3-6 days which would be fueled by a larger than expected Fed hike and/or hawkish comments afterward.
Minor wave 1 has been eventful so far, we shall see what happens next.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
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