30
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| Down Leg off the top can't be done yet, but it's pretty narrow. |
4-HR
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| IT Down extended 100% has shown its validity. Should make for decent buy/cover. I'd be pretty happy to make bottom on that one even if it slides down it a few days. It should have some extra power than the ones in the picture above. ES broke the 8/31 high. SPX did not. WTF. Anyways, thoughts from the prior post make me believe there will be a higher low for now - followed by clearing the 8/31 high. So I could enter a short, maybe early tomorrow or in Europe time for now or await this bottom. Ultimately, first is how the down channel acts, if I have it right or not tbd, it can show a bottom when it is finished. Second is what is happening at 1160 and falling. Third is what is happening 1120 and rising. There may be an earlier support I am missing but hoping the down channel tells me when its done. |
