My thoughts for the week...It will be short as there is nothing much to report. Expect the chop to continue...I think we shall get a good chance to cover shorts someday this week. Based on global markets, it looks like we bounce today...Shorting at around 2860 might be a good strategy.
See below chart...red and blue lines show possibilities short term. I think we are still finishing off wave 4 before wave 5 opens down.
Very simply speaking, we should see 2525-2550 area first (after going up today)...Then we should see around 2860-2960 range....Then the final move down. I will post these counts later...
For today I might do nothing in my trades...Short term taking some pain but we will see how it plays out.
Best.
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