Very nice impulse down and an immediate 3 wave move back up dealing with this ridiculous gap open down from yesterday. One could immediately think this is a bullish move but honestly had the market today moved to a lower low from yesterday and left us a muddled impulse pattern down, that would have been bad for the count. This was actually preferable concerning the wave. pattern.
So, the best outcome is that we get a spike gap up in Thursday morning to close the rest of the open chart gap and then selling. And that selling would continue and end of day ends on the low of the day. Otherwise whatever…
