Discover more from Advised Trader
Plan is EZ for this week $ES $UB $ZB
It should be bearish very soon. If it isnt… then its its a 40 week cycle.
Do you seem how that works?
Looking a the market from the last 40 day cycle failure, it shows that in order to be so late stage in a 40 week cycle, we should be bearish. After all, the last 40 day cycle failure happened at the same trading day count (of the 80 day cycle).
It simply… should fail earlier than that if we are indeed more bearish.
If its going to rally, then it should do it in the next 48 hours
If it doesnt, then the alternate hypothesis (good guess) is that the Nasdaq has farther to fall before its 40 week cycle is complete. Of course (BTW) some stocks have already confirmed their 40 week troughs!
Remain vigilant of trading in low volatility environments with momentum trading plans.