On the Algo time cycle we still have a downward bias. Key levels are 2435.5 and 2418.5 so if you are short you will need to see 2418.5 taken out on either Monday or Tuesday. If you are long then you will need to see 2435.5 taken out in the same time frame. Since the bias is for more down until 8/27 any counter-trend play should have tight stops in place and be temporary in nature.
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Click on the link in my profile to get the video update for 8/22/2017.
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Video update posted on profile status for 8/23/2017 at 10:40am EST
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prior daily chart was invalidated
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I will post market close video in the next couple hours
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Will post morning video within the next hour
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EOD video update has been posted in the status bar on my profile
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Power of the wave and line...magical
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Watch for another touch at 35.5 as the next one will be intriguing.
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EOD video update has been posted in the profile status
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right through the crosshairs
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Final snapshot at the close. Watch for the next video and chart I will post later today with the set-ups for next week.
I like your charts... Placed a short, looks like we are on top of orange curve. :) Let's see :)
dkh
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@roxananechita, place your stops tight. we have rarely had a bull bounce that has only lasted a day
roxananechita
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@dkh, of course. It matches also my analysis, I think we are due for a bigger correction, might also break 2400 but let's see.
dkh
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@roxananechita, if we head back to the bottom of the 30-minute channel that will not be a bright and sunny moment for the bulls as the 3rd time is normally the kiss of the dragon