S&P 500 Waves - Up or Down the rest of the week???

After yesterday's rally anything goes. The wave count could be 5 waves up or 3 waves up, both are viable. That long pin on the last candle hit 1.618 in a 3 wave, and if that is true then we are still in the corrective wave. I am still on the bearish side and expect more down. I am going with yesterday as a big short squeeze. The power of the Fed is hard to argue with as the results so far are amazing. Going to watch this play out.

Hope this helps and good luck trading.

Commentaire:

Initial indication is jobs report is much better than expected. That is good news and more push for an end to the corrective wave and we are starting motive wave. I am still waiting to see it play out. There is still plenty of money to be made starting next week if everything goes positive.