An Early Signal
A three wave decline has unfolded since reaching a new all-time high a week ago last Wednesday at 66,958. That constructive pullback found support at the Median Line (gold dotted line) of the newly drawn Schiff Pitchfork (gold P1-P3) falling just short of tagging the 38.2 retracement level of the October rally. The Fast Stochastic reached a level that has led to a least a bounce in price in the past but we have yet to have confirmation in the other oscillators. 53,835 should offer firm support if the pullback is incomplete.
The Market's Compass
Read more: https://themarketscompass.substack.com/p/an-early-signal
Text source: The Market's Compass Technical View
