With a three-day old bounce in the works for the DJIA, we are seeing our first real test of our various wave count possibilities we are tracking. At this point, is is important to see the structure of the rise (is it in five waves or three) and the extent of the rise and what levels it reaches. This will help us assess which overall count possibility we’re working with and whether the likely trend will be up, down, or sideways. We remain neutral until we can assess the scenario as discussed in our videos.
Also, in the Euro video today we give an example of a recent trade to show one way to play possible turns as it may be winding up an upward correction.
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