In my estimate it looks like it will be completely opposite by end of October, finding a base. We now have EXTERNAL EVENTS that will dictate the immediate future. China has stopped all farm purchases and has dropped their currency. The "WAR" has begun. The two largest trade nations on this planet going after each other. But hey profits will be found. I mean even before the trump tantrum announcement the market was begging for Powell to drop rates by 50 basis points and continue to do so many more times. WHY?
If you can't answer the why's you should reevaluate your personal assumptions and bias.
I hope I am wrong and Elliot Wave finally proves it's worth. Love to get feedback on how people make money using it. I know Phil uses it on ONLY daily moves but does have a strong bullish bias that seems to catch him by surprise every time it drops.
If you want to gamble TODAY should be a decisive reversal BUT not sure if it is where the lows in after hours were or not. The candlestick patterns are all pointing to a rally today. how high and more importantly how long it lasts is up for grabs. This TRADE WAR announcement will not go away as easily.
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