E-Mini SP500 Intraday Bull Attack Update

In a blink of an eye the SP500 drops like a rock, then soared this morning, and is still going as I post. There is a good chance that this market is already over on the bigger bearish side, and we should get another “lower high” to confirm it.   

Since I have a Micro degree wave 2 top, at the 2447 price level, then this rally cannot go past that point.  It’s the pattern that’s  important,  and any wave 2 top cannot be exceeded. It can retrace up to 99.9999%,  but not 100%. 

Active investors or emotional day traders move the markets, because the average Joe is too busy drinking beer and having barbecues.  Being an average investor does not work. They may be up on paper during a bull market, but in a big bearish phase, that paper becomes worthless.

 In short the markets have to keep making lower highs, but that idea will not work if another 4th wave was still in progress. Lower lows, and lower highs, sure didn’t work in the 2015 bear market and it will not work now. 

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