NQ - the bottom is not in, resistance at 14600 area

see details on my spx chart for an explanation, as these two have similar fractals.. emphasis is on the resistance of 14600 and support of 12350 not the micro fractals

Commentaire:

with the gap down at sunday open i am looking at two scenerios,
1) a retrace to 13160-13460 before the move up to complete (X) at 14600
2) a direct path to 12345 bottom

1 is the highest probability currently

while the short term is immediately bearish, long term setup is very bullish here for swing trades

Commentaire:

as of 3/15 we have a clear impulse off the low, which implies the bottom is now in and we should expect a strong rally to the upside as long as the low holds.. this count is now an alternate and no longer a primary