As we can see on the chart, the US100 still has at least one more leg lower to end the impulse wave.
It's still not clear whether the 4th wave ended at 14651.5 or we still have one more push higher before the beginning of the 5th wave lower.
Either way, as long as we trade below 15351 (the end of the 1st wave), odds favour more selling to lows below 13717 at the very least
It's still not clear whether the 4th wave ended at 14651.5 or we still have one more push higher before the beginning of the 5th wave lower.
Either way, as long as we trade below 15351 (the end of the 1st wave), odds favour more selling to lows below 13717 at the very least
According to EW theory, the 4th wave usually retraces towards the 4th wave of one higher degree, which is the level we are trading around now. I don't expect much more upside from here, but as I already said, this idea is alive as long as we trade below the 15351 level.