There are some early signs that maybe it wants a correction here (that's what prompted me to draw those potential support lines) but that's not guaranteed.
Those early signs did play out and the market declined. Most of the time, I would expect another decline to follow. You'll of course forgive me for being modestly gun-shy in the current environment.
Assuming that impulse is indeed wave A or 1 down, then the next targets would be as shown below:
In conclusion, we have a new "impulsive looking" decline, so we'll see if that gives bears a moment in the sun or if the market pulls the rug on them again. Trade safe.


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