Today at some point expect a reversal, but any test of 3670 area should be support for the final C wave up. C wave may not get as high as I'm projecting. After C I expect one more wave down into July, then a larger rally.
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overall wave structure
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Target reached , expect a rejection soon.
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went higher than I thought, but this channel should hold it, If I'm wrong, so be it. I'll stop out of shorts if we get above 3787.
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SPY chart showing channel breakdown, they should retest that this week after a pullback, keep in mind that B wave can be very shallow and just correct in time more than price.
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OIL bearflag looks complete as well. Should go down with equities.
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WXY, 3 3wave structures is likely,
this could change but it is what I'm going with right now.
this could change but it is what I'm going with right now.
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Everyone is watching this pennant, watch for false break either way.
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breakout was false, usually a bearish sign, we'll see.
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Asian selling as Oil breaks the bear flag, the two are influencing each other. I still think there will be one more up wave, but the correction could also be done and we make a lower low.
