As you can see from the chart below the counts are getting to be stupid, but this is the nature of EW. Countless editing and options laid out on the table, and little by little replaced by another count or nullified altogether. The most important thing here really is to recognize the phase of price that we are in and as suggested by the ST in early Oct. it was up. Amazing how we always look back and say "why didn't I follow that". Well, like I have mentioned in the past.. Human emotion and instinct are driven to be better. It is not that we cannot beat an indicator or a theory, the question is the consistency of your strategy and theory vs the consistency of the indicators. I write these blogs to constantly remind myself and learn from my analysis what works and doesn't work, and find enlightenment when time over time, indicators always come out the winner in the consistency category. Of course, if you do not follow your own rules, no indicator can remedy the mistake or loss.
So far today everything has stayed relatively the same as yesterday. New highs as we anticipated in an OB reading. This will continue to be the higher odds when in this environment.
SEN: Bearish
ST: UP
PA: UP
As always to confirm a move lower, one should look for a move to the OS by the indicators in the intra-day level for us to anticipate that a CIT or a short term move lower has occurred.
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