A little deeper pullback yesterday then I would have liked to seen but still no major harm done for the overall picture that still points up into mid-late next week (possibly the 21st/22nd, but I doubt it). There's a falling trendline from the all time highs to the 3/25 high, which is pointing to 5550-5600 on the SPX (depends on when it hits), and that's about 5600-5650 on the ES.
If this plays out like this there will be an obvious 5 wave move up into that trendline, and that would suggest the lows are in and those 5 waves are a larger wave 1, then the drop into the end of the month would just be wave 2, which should not take out the low... but it can get really close.
It's all just a guess at this point as many others think the drop from the current high to the current low is a larger degree A wave, and we are in B wave now, which means we could see 4100 or even 3300 in a C wave happen. I'm not in that camp but when I take a short I'll just let it go to wherever it wants to go to. Ok, that's all I have for now. Have a great weekend.
Also, I'll be gone the first half of Monday but will try to drop in the chatroom in the afternoon.
Have a blessed day.
