IF Minute wave 3 (green) ended today, tomorrow could see an early morning high around 4433 before moving into more declines later.
15 and 30 minute chart triggered wave 3 of 3 and macro wave 3 signals seen here:
The first signal was probable Minuette wave 3 inside of Minute wave 3. The second signal was likely the end of near the end of Minute wave 3.
This would imply Minute wave 4 retracement up is next. Historical models point to Minute wave 4 likely lasting 2-4 hours which points to upward movement at the beginning of tomorrow. Minute wave 5 downward should begin after the peak and likely lead to a low beneath 4390 and possibly 4370 before the end of the week.
Friday is a "nothing burger" for economic reports which could see the market end the week beginning to drift higher depending when the low below 4390 is achieved. Next week could see an early high before another low below 4350 is achieved.
15 and 30 minute chart triggered wave 3 of 3 and macro wave 3 signals seen here:
This would imply Minute wave 4 retracement up is next. Historical models point to Minute wave 4 likely lasting 2-4 hours which points to upward movement at the beginning of tomorrow. Minute wave 5 downward should begin after the peak and likely lead to a low beneath 4390 and possibly 4370 before the end of the week.
Friday is a "nothing burger" for economic reports which could see the market end the week beginning to drift higher depending when the low below 4390 is achieved. Next week could see an early high before another low below 4350 is achieved.
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!!
