AI
Wednesday, April 10, 2019 10:04:53 AM
Bears Need to Hold 2996
http://www.pretzelcharts.com/
"Monday's update suggested "SPX would probably look a little better with at least one more wave up..." which we got late in Monday's session, as SPX made a new high for this move.
It then urged bull caution and warned that "we are at least getting into the zone where we could count five waves up." Tuesday then saw SPX head lower for the first time in 8 sessions.
Is this the start of something more bearish? Well, it very well may be, but bears do need to hold 2996 (note: TYPO in chart, which should also read 2996, not 2896) heading forward, so today will be the first test to see if they're serious."
"INDU shows the "first step" for bears:"
"In conclusion, Tuesday's decline appears impulsive, which suggests another wave down of equal or longer length. I can't entirely rule out the possibility that the impulsive decline is wave C of a micro expanded flat, so it's important for bears to hold the recent high. Trade safe."
http://www.pretzelcharts.com/
"Monday's update suggested "SPX would probably look a little better with at least one more wave up..." which we got late in Monday's session, as SPX made a new high for this move.
It then urged bull caution and warned that "we are at least getting into the zone where we could count five waves up." Tuesday then saw SPX head lower for the first time in 8 sessions.
Is this the start of something more bearish? Well, it very well may be, but bears do need to hold 2996 (note: TYPO in chart, which should also read 2996, not 2896) heading forward, so today will be the first test to see if they're serious."
"INDU shows the "first step" for bears:"
"In conclusion, Tuesday's decline appears impulsive, which suggests another wave down of equal or longer length. I can't entirely rule out the possibility that the impulsive decline is wave C of a micro expanded flat, so it's important for bears to hold the recent high. Trade safe."
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
