Symmetrical Triangle, I bet EW analyst would say this is wave 4, before the final leg down.
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Very nice. Fits with the close being the LOD and maybe a small pop up tomorrow to test the gap. But maybe just more selling. I'm sure Cobra will have some evidence for both.
I still think we're going to see 110 SPY before we see any substantial bounce (i.e. more than 50% retracement of today's low). Elliott Wave iv, up, is over and we're on our way below 110. Cougar's chart from the other day said it all.
Cougar, can you please post an update to your EW chart from the other day?
here comes the retest of the low. volume increasing, so either cannot breakdown the low or just quickly breakdown to run stop loss then rebound, should be close to a rebound anyway. let's see.
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yeah, quick breakdown to run stop loss. let's see any rebound here, should be close.
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tinted area as Symmetrical Triangle text book target.
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