Elliott Wave Update ~ 7 February 2023

Ok. Well, the market slightly dipped but recovered and as suggested last night, it’ll have to tread sideways a bit above the recent regained support to be able to thrust higher and finish out wave C of (2). Technically, the wave violated the rules so it still might just be an overall fake breakout and a severe downdraft is coming. It doesn’t look right for a bullish wave at this stage any longer….we shall see.