We are sitting on the 20 day moving average, so the blood should come to a halt. But, with potential weekend headline risks, I do not feel comfortable buying the dip.
I sold a few positions early on , and jump in the $FAZ mobile. So far, so good. Here is the current chart of the $SPY:
According to wave science we s/b nearing the end of this decline with another wave up to 1240 territory soon:
From last nights OEW summary:
“Minor wave 4 may still have some work to do before Minor wave 5 gets underway. Support remains at 1204, 1200, 1196 and then the OEW 1187 pivot. Should the SPX clear resistance at the OEW 1222 pivot the pullback is likely over.”
The 1194 low of the day falls into the 1187 pivot zone of 1180-1194 … let’s see if this holds and a rally develops.
looks good so far.
I bought $PWER on this dip.