US Markets in Flat e-wave
When I wrote my comments about symmetrical triangles in global markets, I wondered why the US markets had such a distorted triangle. Well, it's probably not a triangle, but a flat. wave-a was the election rally, wave-b ended at the November lows, and wave-c is presently in progress. wave-c is shaping up to be an ending diagonal, which means the next down leg will start off very sharply. The stochastics are entering overbought levels.
With more time needed to complete wave-c in the US markets, global markets will have enough time to complete the zigzag with wave-b triangle.
For tomorrow: Down a little to choppy trading.Thurday and Friday UP. Next week = ouch!!!
