Another random eliott wave projection, part 2.
A couple of technical bearish signals here:
1. It is weird to get a 161.8%+ extension in a wave C, especially during a corrective 4th wave. That likely means the 4th wave will be very deep (3950 possible, 4100 minimum) . Or, we are not done with the bear market and we are going to see prices below 3640.
2. The close below the top-anchored VWAP is a short signal to me, similar to what happened on April 19th. Too late to get short now though. Looking for shorts above 4180.
Not sure where this market really wants to go yet, but considering the recent action, it seems the bear market isn't over just yet.
1. It is weird to get a 161.8%+ extension in a wave C, especially during a corrective 4th wave. That likely means the 4th wave will be very deep (3950 possible, 4100 minimum) . Or, we are not done with the bear market and we are going to see prices below 3640.
2. The close below the top-anchored VWAP is a short signal to me, similar to what happened on April 19th. Too late to get short now though. Looking for shorts above 4180.
Not sure where this market really wants to go yet, but considering the recent action, it seems the bear market isn't over just yet.
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To be clear, it means that the drawn wave analysis has been invalidated :D
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Missed the big short because on the insane volatility following J Powell speech
Crazy moves on the 1min chart - managed to get in short but I closed way too early because I got scared of the volatility.
Crazy moves on the 1min chart - managed to get in short but I closed way too early because I got scared of the volatility.