On Friday, several indices formed what appear to be small impulsive declines, and SPX and NDX may have formed b-wave lows at Friday's low to boot, so today we're alert to the potential of another wave down to break Friday's low.
INDU:
In conclusion, we have the markings of at least a potential near-term turn, but whether it will develop into anything larger is unknown at present. Obviously, if Friday's low isn't at least tested, then the apparent impulse is off the table. We'll see how today develops. Trade safe.
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