Morning Update: Encountering a Local Top Soon?
Whether we have topped or about to top in our minor b of B, we should be anticipating an initial move below 3950 to give us our first clue, we may be headed to the 3761-3634 area. This next move down should find support in my anticipated target box. However I am expecting this move down in c of B to be an impulsive 5-wave structure.
Depending how we trade today I may add to my -5 Jan EOM 4100 ES Short Call Position. I'll add If we meander up in a very overlapping manner towards the 4030-4048 area. If we impulsively jump into that area, or decline and breach 3950 I will not add.
Best to all,
Chris
Depending how we trade today I may add to my -5 Jan EOM 4100 ES Short Call Position. I'll add If we meander up in a very overlapping manner towards the 4030-4048 area. If we impulsively jump into that area, or decline and breach 3950 I will not add.
Best to all,
Chris
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