OK, things have played out exactly as I suggested they would, but we’re now approaching an inflection point and we’ll soon discover which count is on. For the more bullish count the target of the wedge has almost been met and the market could turn anywhere from here to the 78.6% retracement levels, watch them. Also, the more bearish count that wave (v) of [A] is taking the indexes to new lows, the target area is 1090ish.
I’ve moved stops to the opening prices for the bearish ETFs this morning. But, will be switching it to the dynamic stop of the 21 EMA on the 5 min chart soon. It’s been a great trade first long on Monday/Tuesday, now short, we’re killing it on both sides, not time to be too greedy! Enjoy