I like using wave theory to locate when and what a direction a momentum change may indicate. I posted yesterday about a longer 1-5 pattern entering into a new downward cycle which seems to have completed over night. I believe the longer pattern in blue indicates that wave five should bring us back to around 5200 before some type of reckoning happens.
Comment:
jUST CLOSED OUT MY FIRST LONG ON THIS, GONNA LOOK TO REOPEN IN AT 4700. mET RESISTANCE AT 5000.