I don't think this run is over yet. I do like this pattern and I have been studying it closely.
This is a tricky one first it must bounce up to complete the C Wave, then it must drop to just above support and the turn around and resume the trend.
Given that there is going to be some volatility on Monday or Sunday depending where you live it will be interesting to see it unfold.
Just because something looks like an impulsive down movement does not mean that it is the start of a decline.
What about the rest of all the waves that need to complete? You can't just say oh this looks like the start of a drop we are done here.
I don't want to get into the details of what this is I am just going to say it's a Wave 2 and move forward.
When the market is about to fall most people will be bullish so this is a sentiment indicator if you see how many people are bearish right now with all the media and ideas etc.
Even Elliott Wave International is bearish right now so beware!
Happy Trading!
This is a tricky one first it must bounce up to complete the C Wave, then it must drop to just above support and the turn around and resume the trend.
Given that there is going to be some volatility on Monday or Sunday depending where you live it will be interesting to see it unfold.
Just because something looks like an impulsive down movement does not mean that it is the start of a decline.
What about the rest of all the waves that need to complete? You can't just say oh this looks like the start of a drop we are done here.
I don't want to get into the details of what this is I am just going to say it's a Wave 2 and move forward.
When the market is about to fall most people will be bullish so this is a sentiment indicator if you see how many people are bearish right now with all the media and ideas etc.
Even Elliott Wave International is bearish right now so beware!
Happy Trading!