120 ES scribble... Any thoughts that yesterdays move down was a C wave ?? (c would also = 300% ext of a) I'm sure most will be labling the move down of the FED as an A wave, but we like to think a little outside the box on this EW thread ..
206, 23, 32 points down from today high with five waves down. Prepare to open long position set target at 100,10,20 points rebound then reverse position.
Long position entered. Set stop at the last low. Try to re-enter long position if stop out. Set target at 150, 15, 30 points rebound then reverse position when there is a lower low.
As Mu point out Key area this 1483.5 MM* on the ES Needs to hold for the Bulls and Break for the Bears *a bar could "shadow" to the gap but the bulls need a bar close above the 1483.5 other wise the bears will drive it down.