I'm looking for the rejection near the 50 MA, fibs, and cloud here in the daily timeframe. Rejection at the 10-week MA in the weekly timeframe. Looking for a test of the March 23 lows to 2100-2150 for a tradable bottom. Should it form, I'm looking for a larger rally to 3000-3100 for a counter trend that will be followed by an even bigger selloff back towards 1650-1810 level. My target level is approximately 1708, which is the 61.8 fib from the 2009 low of 666. That is after a tradable bottom and a larger counter trend.
See the video at thechartpatterntrader.com/
See the video at thechartpatterntrader.com/