Late last week we saw some topping action that suggested weakness going into this week. And we got it. But it may be over now. There is still a clear 3 wave decline (ABC) from the high on the year in the S&P, so a new high on the year seems likely. We can't forget that. Only the Nasdaq 100 managed a new high while the other major indices failed. Now, the rally from the wave C low looks impulsive, with the recent weakness this week being a wave ((iv)). If correct, stocks should be on their way to new highs on the year soon.
How to Find and "Hook" Potential Trade Setups
No comments:
Post a Comment