From the intraday high there appears to be 5 waves down near completion in DOW SPX NASDAQ so there’s a shot at an upside reversal in the next hour…SPX could take out yesterday’s high if this occurs..

Not a big zigzag, but large enough to be an ABC..if we get A = C from here SPX may fade to as low as 2842-2843 before a late day reversal back to the highs…we did break 786 of the entire zigzag going back to 2862 so there’s plenty of momentum on that..

The entire C wave started from 2842 and we’re just fractions away from breaking that level…one break of that level would setup a bigger retracement back to the 10 day highs..NASDAQ is weakening a little bit but the DOW is so strong that we should see NASDAQ return back to the highs again by the […]

I was looking for a potential bottom yesterday and reversal, and we’re getting it today…the gap up this morning will take out .786 of the c wave setting up a potential .618 reversal..2842 could be easily taken out today on this move..

2817 was the .382 retrace and we hit that level intraday in the past 10 mins before fading again..if we drop again it would be a 5th wave in a C wave down before a potential .618 reversal..