Drive down last night did not roll the 3 day MyWave over, but the reaction up has been insipid and corrective too. The momentum cluster suggests another cycle lower is due and with no new high, that is a positive, at least, for something getting started, albeit 'what' is another matter.
The second chart shows the 12.5day MyWave, being the 2nd cycle I follow (the 3 day being a 1/4 of this minus a little tidying)and as can be seen this is still bullish, with the momentum cluster suggesting a diagonal has/is playing out. A move to 15000 would turn this 12.5day MyWave too and at least provide a motive for the 3 day to keep cycling lower. Hoping for some clarity today.
The second chart shows the 12.5day MyWave, being the 2nd cycle I follow (the 3 day being a 1/4 of this minus a little tidying)and as can be seen this is still bullish, with the momentum cluster suggesting a diagonal has/is playing out. A move to 15000 would turn this 12.5day MyWave too and at least provide a motive for the 3 day to keep cycling lower. Hoping for some clarity today.
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