Here is a quick technical update using a comparison of a 60...

Here is a quick technical update using a comparison of a 60 minute 30 year bond future chart which I traded today comparing it to the daily Imu chart.
As you can see the bonds on the 60minute chart did a 5wave move up and then did an irregular ABC
correction. Notice how tight and well organized the price moved downward.Your buy points where the red
lines and allowed you to buy leveraged as we got the final C wave spring windup. Always have points to lean off. See how the price accelerated out of the downtrend and should move up to the old highs.
Now let’s take a look at the Imu daily. With technicals price patterns scale.
As you can see on the Imu daily we made a 5 wave pattern up and we are completing an ABC correction down. If the analog holds we should be completing a windup similar to the 60 minute bond chart.
We could slip to 28 but the pattern won’t be violated. The point Iam making is these downward corrections
are profit taking and accumulation and if right we should have a sharp acceleration out of the downtrend.
Remember technicals are pure probability and are never 100% perfect. Always have your mental stop out in place for when the pattern might fail.