Yesterday: "If the intra-day fails to come out of OS, we could still see more accelerative move lower. Therefore look for an exit or a positive divergence on the intra-day charts for a clue to a rally."
With EW concerns, the recent moves lower from the highs look corrective and should see prices move or surpass the old high.
MT: UP
ST: DOWN
PA: UP
Bonus: For anyone watching the fight tomorrow, it has been said that when Manny Pacquiao wins, the Philippine market moves up by 10%. At current the EW looks like a 3 distinct waves down, but this would assume the actual waves are complete.. Based on our indicators the MT and ST are on a down trending direction, and support is being held by the 20 wk MA. So risk of a protracted move lower exists. With this said, Pac Man's luck might not be by his side tomorrow night. LETSSS GETTT READY TO RUMBLEEEEE...
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