Possible five wave impulse down complete but no technical damage so far...
Today was a volatile day and great if your a trader but not if your a position trader or worse swing trading. Yesterday the experts said there was a Covid surge and today they said there isn't and not going to be. This is causing a Social Mood on steroids market! Yesterday was a 90% plus (NYSE) declining vs advancing down day, the markets traded back below the 200 day MA, volume was heavy, there was as perfect of an Island Reversal as you will ever see and the candle sticks gave a big sell...this is all bearish at least for the short term if not long term. With all of that...here's what Elliott has to say which is what we really need to know. This morning we saw a big gap higher on the news because the experts said we wouldn't have a virus surge and even if we did we'd be prepared for it. This was good news and it could have been a "break away gap" starting another rally, however, it didn't last and price filled the gap canceling the immediate bul...