Thursday, July 9, 2020

Wave Targets W4 Reset- W5 Likely Underway

EOD: Could still be in w4 but likely the low is in for this wave. There may be a retest of the low before w5 engages convincingly. Meanwhile breadth continues to decline overall. On the weekly NYAD MACD the macd print itself is below zero and also below the signal print however the signal has yet to go negative. On the daily NYAD MACD all plots are negative.

Update: 1:30pm EST. ES 3141 zone could be a/(i) up of wave 5.

It was noted in the previous post- "the 3118 zone in ES could now be a wave 4 low target" so that zone could have completed or be in the process of completing.

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