Yesterday was more chop as the market continued to consolidate before it makes another squeeze up for Extra Tiny Wave 5, where it should reach the 4600-4620 zone. At that point we should finish Tiny Wave 1 up and from there we should see a 2-4 day pullback of 100+ points for Tiny Wave 2 down. Nothing has changed with my forecast on this… it’s just dragging out in time, that’s all.
The pullback target will be right into the support zone on my chart that shows a falling dashed purple trendline that will be around 4478 this Thursday. Intercepting it is the lower dashed white trendline in the rising channel that I just added to the chart. That crossing between them occurs in 3 days, which would be perfect… if it plays out?
We could fall shy of hitting that zone and only reach 4500 possibly… hard to say for certain. Ironically, the upper dashed white trendline in that same channel will be resistance going forward. It will be around 4620 today, so between it and the falling light purple trendline (around 4596 now) that’s the zone where I think we top out at for Tiny Wave 1. I’d like to see it hit today but I can’t control the “when” part, so I wait patiently. Nothing more to add.
Have a blessed day.
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