Yesterday's session and continuation through the evening produced a large megaphone who's function is to clean out stops on both sides of the tape before embarking on a larger directional move. Count wise there is no material change while price remains between magenta 2/B and (1)/C. While there is room for some near term upside, our overall stance is for more downside pressure to reassert itself. Below is the link to today's Market Structure Projections and timing. We've also linked our intermediate term and long term Elliott Wave outlooks. Good luck and profitable trading.
If you have any questions about our analysis or any of our analysis systems, contact me anytime at john@mcm-ct.com