Trust the Cloud Model
Trust the Cloud Model! Yesterday afternoon both of our short term support levels, the Median Line of the Schiff Modified Pitchfork (gold dotted line) and the Kijun Span (green line) were violated. This led to a quick test of key Cloud support and support at the Lower Parallel of the Schiff Modified Pitchfork (gold P1-P3). The pivot higher from the Lower Parallel validates the Pitchfork version we selected as it still contains the time and price vector of the constructive advance. Only a break below the Cloud and TDST Support at 4,385 would suggest a deeper corrective phase was unfolding.
The Market's Compass
Read more: https://themarketscompass.substack.com/p/trust-the-cloud-model
Text source: The Market's Compass Technical View
