US30 Looking Bullish

17 ธ.ค. 2021

Here's another example of a confluence of alternate counts (continuing with the point I made in yesterday's post). Here's two counts overlapped on top of each other. One is bullish going into the new year; the other suggests a return to the Dec-01 low. Yet in the short-term it doesn't matter which is more likely. Both are looking for a short-term impulse to another new monthly high, if not an all-time high.

Invalidation of these counts is at 35413.

17 ธ.ค. 2021

บันทึก

If it invalidates here we'll have to switch to bearish alternatives. The closest target would be toward the top of this range:



This assumes we would still be within a wave 2 flat. If it were to continue pushing lower beyond the top of the marked range, we'd be looking then at the possibility of a larger degree correction still ongoing.

17 ธ.ค. 2021

บันทึก

Here's what a potential flat would look like:



If it pushes much lower than the top of this fib range we'd likely be looking at something more like Scenario 3 in yesterday's post (with green wave C and blue (X) moving to yesterday's high). That would likely result in a very bearish outlook for the rest of December. But, one step at a time.