Ideal Path Wants OMH in c of A
At this point we have bounced enough off the low yesterday (but as only 3up) that any break of that low would project toward 3850 or below and then be WAY too deep for the "(iv)" of c of A. Garrett has already "$hifted" his primary on ES that an LD topped our A wave on 11/15.
Semis & XLK argue more for OMH and NQ/QQEW also as the completed LDs for A don't work well there. XLI & XLF would favor more of the fade to be starting now. But NQ also did already reach nearly a 123.6% Fib for its c of A and could count that complete if the recent low for (iv) fails to hold (QQEW hit the 100%).
On SPX the LD is clearly possible on the 30min view, but when we zoom out to the 4hr on the CABPCR it really looks like it wants another high... also the PCR is >2.00 rn and I really wanted to see it get closer to the bottom line for the top of our A...
We are at 3day iCloud resistance, and any break back under yesterday's low falls back into the red Daily iCloud. 3025 is now 2hr PSAR support too.
Have a great weekend! Good Shabbos!