S WAVE CHARTS

[snootmagruder]

Ravi,
I have a few charts with descending TLs that I believe will be taken out.
Shown as pink dotted lines in chart. SPX doesn't have a dependable one now, I did show a smaller one some time ago, but I have faded that.
These three charts can be used as a percentage down to compare to SPX and the longer we take the farther down it will need to go. As we drop, maybe there will be some reaction to the down forks for more clues.
http://stockcharts.com/c-sc/sc?s=QQQ&p=60&st=2020-03-02&en=2022-09-16&i=p55484536349&a=403681284&r=1660744721502
http://stockcharts.com/c-sc/sc?s=%24WLSH&p=60&st=2020-03-02&en=2022-09-16&i=p43764819771&a=671106384&r=1660745084536
http://stockcharts.com/c-sc/sc?s=%24INDU&p=120&st=2020-01-01&en=2022-09-16&i=p60247056748&a=627530722&r=1660745678161