Browse Symbol Stacks: XLF: Weekly canles suggest more downside ahead.png
Weekly canles suggest more downside ahead.png
Notice the weekly candle formation for some of the major indices. This is also my current view of what I see as a large A-B and soon to come C topping pattern.
For the 2 of you who like EWT: EW describes that is can happen at the end of a long exhaustive rise that the final 5 waves up is a rising triangle composed of overpapping 5 a-b-c waves. Sort of a transition form 5 wave implustive sequences to 3 wave a-b-c correction patterns I suppose. That is what appears to have happened in all these major indices (to me). All the back and forth action since last August looks to me like A-B action as you would expect in a major correction. IFFFF correct when the C down wave starts is most likely will be faster and of greater magitude. Take care. Have a great week.