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Generally should be at least a higher low for a solid bottom.
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Intraday: new swing high, it is bullish bias, Topping process here but dip will be bought unless we are heading right back inside Friday's, then.....she is weak sauce.
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Consolidation, breakout on the upside is more likely.
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The pullback probably will be bought. Noticed that recently more often it's down big in the afternoon.
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Put this gather Friday before the big up move. Should change the count to make Friday's last low a 5 following an ABC for 4 up.
Point being looking for that 50% retracement. Guessing we are in an ABC zig zag up for a wave B. Bad news and bad seasonality should provide the C to lower lows. Time will tell and only price pays. So Elliott guessing is fun but a really hard way to play the market!
Bear trap? I don't see the maket will close lower today, there are a lot of overlaping but the supports are strong until now. so.......there's alway tomorrow. Peace!
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