ES Morning Update February 6th 2023
Everything is looking good for the bears as last Friday carved out some smaller degree wave 1 up and wave 2 down, which is common in the early stages of a decline as the bulls buy the dips. We could see this happen again today and maybe tomorrow too?
But at some point soon (this week) we should see the bounces mostly disappear with steady selling lower as support level after support level gets tested and broken. I’m very bearish here and even though it looks like this is just another pullback this morning I think it’s the start of a super nasty move down, which when it’s all over with in the coming weeks we’ll be at a new lower low.
This is the start of Small Wave 3 inside Medium Wave C, and it’s a crash wave, but still early in the process. It should gather steam in the next few days and just destroy the bulls that keep buying dips. Not much else to say that hasn’t been covered all of last week. We’ll see. Have a blessed day.
Source: https://reddragonleo.com/2023/02/06/es-morning-update-february-6th-2023/
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