SPLV: MARKETS : At this point I'm a day Trading BEAR
SPLV helps to take out the noise. At this point we could be BULL or we could be BEAR. Leaning toward BEAR but you can't rule out BULL. IN this kind of situations its always good IDEA to Keep you eye on the LOW volatility stocks (ETF) IT usually prints waves the clearest.
>What we see is a clear downward price channel and we are VERY close to hitting the upper range of that channel>
>We also have a clear RSI divergence in multiple time frames.
>We are flashing red on the overbought indicators.
>The waves resemble a classic text book A-B_C Elliott pattern.
>LONG position Risk/Reward is nearing a LOW.
>Up or DOWN we should expect a correction, very soon.
>Thursday was slightly Bearish so on a weekly cycle this could allow Friday(tomorrow)to be Bullish followed by a Bullish Monday...The weekly cycle is the one(1) remaining reason we are still holding cautious regarding all out shorting.. But we stand poised and ready
As we near a TOP or a BOTTOM there is always the possibility for "one more wave syndrome , "one more wave!", is always possible ... UNTIL it doesn't happen , and your left holding the bag
>What we see is a clear downward price channel and we are VERY close to hitting the upper range of that channel>
>We also have a clear RSI divergence in multiple time frames.
>We are flashing red on the overbought indicators.
>The waves resemble a classic text book A-B_C Elliott pattern.
>LONG position Risk/Reward is nearing a LOW.
>Up or DOWN we should expect a correction, very soon.
>Thursday was slightly Bearish so on a weekly cycle this could allow Friday(tomorrow)to be Bullish followed by a Bullish Monday...The weekly cycle is the one(1) remaining reason we are still holding cautious regarding all out shorting.. But we stand poised and ready
As we near a TOP or a BOTTOM there is always the possibility for "one more wave syndrome , "one more wave!", is always possible ... UNTIL it doesn't happen , and your left holding the bag