That area would be the near term target. It would fill the gap as well as meet the downtrend line. Also, stops are probably in that area. After that, I expect one more move down although if we break above the downtrend line you can see a harder rally. Under 360 and this idea is invalid. Good luck!
Komen:
363 area should hold on any pullbacks
Komen:
363 has held so far.
Komen:
SPY is stretched and showing 3 waves only. If we stall at 370 we may have one more low coming this week. The slow move up is concerning to me FWIW. I took some profits in case.
Komen:
watching for this
Komen:
target reached, adding shorts
Komen:
watching aapl for weakness - may be leading the market.
Komen:
AAPL now broke horizontal support and has retested it, which is an objective short area, if correct we should see selling pick up soon.
Komen:
so far this is looking good for bears - so far
Komen:
they are shaking out shorts I believe. AAPL still looks like an ABC here after a messy impulse. Above 147 would be problematic for bears, otherwise this could be 1-2 complete
Komen:
SPX took out stops at the very end of day. Makes sense if they want to reverse it overnight/tomorrow. We'll see.
