Per last analysis, we look to have completed a 5-wave leg down. The bounce came exactly where expected, now at a key level. Likely to pullback a bit here, so what happens next is CRITICAL.
Red path: Bear scenario: ABC correction to 12345, then more doom. Green: Bull: new Impulse up, about to dip for w2 then a violent w3. The paths and bounces are pure guesses, but the fibs will be SOLID.
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Last plot looking for 33.4k
Komen
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Pullback now at first key decision point bounce from 35.6 to 36.6? or drop to retest 35k then see what's wut?
Coming back as expected went a little higher than expected (bull sign) but high higher tf fb at 35,546 resistance zone.
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Zoom IN (5 min) 35k retest would be interesting. the little bounce on blue 5.236 fib above a good sign. possible it could break gold 4.236 at 35,664 from here
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Where we bounce FROM is important, and where TO to be pondered after.
Just hit the EXACT target for wave C At least one target anwyay.
That level was chosen because it is the bottom of the "Impulse" from 37,243 that started the last cascade down. The Impulse Zone is where we an expect the max sell pressure.
And to be more specific, the "Impulse Core" (.382-618) is most focused: So now we have 37.0-37.1k as the key zone.