Monday, August 02, 2021 9:35:57 AM
The Other Side
http://www.pretzelcharts.com/
"Here's something you won't hear me say too often: Last update suggested "complacency," and that seems to have worked, with the opening low being roughly the end of the day's drop, and with futures suggesting a gap up toward the prior high. That high will be the inflection for a couple versions of a more complex correction. If SPX were to turn into a more complex EXPANDED FLAT, then below is one option:"
"Not shown: If it wants to turn into a WXY, then it could stall shy of the high and break below Friday's low.
Big picture, I did highlight the old target zone, and discuss the seemingly-crazy technical chart potential in the event of a full-bore, "best case" (for bulls) fifth wave extension."
"In conclusion, the charts say it all. Trade safe."
http://www.pretzelcharts.com/
"Here's something you won't hear me say too often: Last update suggested "complacency," and that seems to have worked, with the opening low being roughly the end of the day's drop, and with futures suggesting a gap up toward the prior high. That high will be the inflection for a couple versions of a more complex correction. If SPX were to turn into a more complex EXPANDED FLAT, then below is one option:"
"Not shown: If it wants to turn into a WXY, then it could stall shy of the high and break below Friday's low.
Big picture, I did highlight the old target zone, and discuss the seemingly-crazy technical chart potential in the event of a full-bore, "best case" (for bulls) fifth wave extension."
"In conclusion, the charts say it all. Trade safe."
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