The market continued its volatile swings today. This could be the price action over the next few days. In fact, the S&P 500 looks to be in a "B" wave of a bullish ABC corrective pattern. The DOW and Nasdaq have similar patterns, but not as distinct. If this is the case (completing a "B" wave), the S&P should have another move down (wave C) in the next few days. It might not be done with wave "B", so the market could rally a bit tomorrow as well...but it shouldn't yet go to a new high if this pattern is correct.
No comments:
Post a Comment