rbreese, momentum does not support a rally short-term. There is
a low-compression squeeze on 30-min which could propagate into a
short-covering bounce. A bigger rally will be dependent on how
today is closed.
From the EW perspective, if a drop from yesterday is not
followed through, a 3-wave move lower could be forming a zig-zag
formation.
Anyone see modest rally today
Posted by rbreese on 10th of Mar 2023 at 07:12 am
Anyone see modest rally today if jobs number not as bad as market is looking for ? Thanks
rbreese, momentum does not support
Posted by junkie on 10th of Mar 2023 at 07:31 am
rbreese, momentum does not support a rally short-term. There is a low-compression squeeze on 30-min which could propagate into a short-covering bounce. A bigger rally will be dependent on how today is closed.
From the EW perspective, if a drop from yesterday is not followed through, a 3-wave move lower could be forming a zig-zag formation.
Thanks junkie as I know
Posted by rbreese on 10th of Mar 2023 at 08:01 am
Thanks junkie as I know CPI and PPI next week will keep volatility on tap.
Agreed. I favor the 3
Posted by fredsaid on 10th of Mar 2023 at 07:54 am
Agreed. I favor the 3 wave move lower scenario which would mean we close flat to slightly green today but Friday Flush is welcome. Happy Friday !