We have the S&P500 grinding up to all-time highs. We have some bearish divergence forming and a potential 3-Drive reversal pattern. The 161.8 extension of the 1st drive (green) and 1.272 extension of the 2nd drive (red) both come in around 3100 for so confluence. This is where I will be hunting for reversal. My minimum target will be around 2500 for a Running Flat correction. That is a potential correction of around 20%
Thanks you sharing this interesting analysis. I agree but for now, I am thinking we are still headed up before this correction that you speak of happens!
DaddySawbucks
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Volume Mon 28th half normal. Divergence in Dow and RUT, DJT. The 1.272 from 13 Sep is at 3067; IMO could get there, might run out of bull steam before that. Shorting as we go up. Ty for post!