SHORT TERM: gap down opening then slide, DOW -799
During the first two days of the week Asian markets gained 0.5%, and European markets gained 0.6%. The US market started the week at SPX 2760. After a gap up opening to SPX 2800 on Monday the market started to pullback. The pullback continued with today’s gap down opening as the SPX hit 2697. Quite a drop in two days, after a 5 day 169 point rally. Volatility continues.
We had counted five waves up from SPX 2631 to SPX 2800: 2672-2653-(2674-2656-2744-2723)-2754-2733-2800. The parenthesis are the subdivisions of wave 3. Notice all the pullbacks were around 20 points. On Monday the market dropped 27 points after that big gap up opening, suggesting the largest pullback since the SPX 2631 low was now underway. Dropping 103 points in 2 days is large, and swift. We placed a Minor wave A label at the SPX 2800 high, suggesting Minor B is now underway. A 61.8% retracement of the entire rally is at SPX 2696, close to today’s low. When Minor B concludes we expect another rally that should eclipse SPX 2800, then reach 2815 or higher. Short term support is at the 2656 and 2632 pivots, with resistance at the 2731 and 2780 pivots. Short term momentum was extremely oversold at the close. Best to your trading!
Tomorrow US markets are closed for a Day of Mourning for POTUS 41.
MEDIUM TERM: uptrend likely
LONG TERM: downtrend probable
CHARTS: https://stockcharts.com/public/1269446/tenpp
the ELLIOTT WAVE lives on 
Wow , nice reversal .. whip saw
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A few more Q’s if those below are now used.
Initiative Q is an attempt by ex-PayPal guys to create a new payment system instead of payment cards that were designed in the 1950s. The system uses its own currency, the Q, and to get people to start using the system once it’s ready they are allocating Qs for free to people that sign up now (the amount drops as more people join – so better to join early). Signing up is free and they only ask for your name and an email address. There’s nothing to lose but if this payment system becomes a world leading payment method your Qs can be worth a lot. If you missed getting bitcoin seven years ago, you wouldn’t want to miss this.
Here is my invite link: https://initiativeq.com/invite/r8va4BbkN
This link will stop working once I’m out of invites. Let me know after you registered, because I need to verify you on my end.
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Hi Tony…Namaste..
Looks like Minor C of Int.A is going to be a triangle or ending diagonal with the overlaps..
Thanks..
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For anyone looking….here are more Qs
Initiative Q is an attempt by ex-PayPal guys to create a new payment system instead of payment cards that were designed in the 1950s. The system uses its own currency, the Q, and to get people to start using the system once it’s ready they are allocating Qs for free to people that sign up now (the amount drops as more people join – so better to join early). Signing up is free and they only ask for your name and an email address. There’s nothing to lose but if this payment system becomes a world leading payment method your Qs can be worth a lot. If you missed getting bitcoin seven years ago, you wouldn’t want to miss this.
Here is my invite link: https://initiativeq.com/invite/BgLiTmdyV
This link will stop working once I’m out of invites. Let me know after you registered, because I need to verify you on my end.
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Verify
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Hi,thanks Tony
Nasdaq not far from to complete a bullish pattern (possible in the middle of next week)
https://invst.ly/9gb2k
https://invst.ly/9gb5v
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