Today SPX, NDX and DJIA made more damage than expected. Just look at these candle formations.
SPX: 2-day candles confirmed a Dark Cloud Cover.
NDX: 3-day candle formed a bearish Engulfing.
DJIA: Daily candles made a Three Black Crows.
These are among the strongest bearish formations with the odds in high 80%.
The market is definitely up for something bigger and we should see more signs tomorrow.
I mentioned a few days ago that SPX/ES extended 2.618 off the September low and I viewed this level as a possible pullback zone. The prediction fully materialized.
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Of course, as the bullish odds are never zero, there is a chance of a continued rally. If SPX moves high tomorrow with a reversal candle, the green wave 4 could be done and wave 5 could start. Though, the bullish odds are very slim as I type.
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