monday maddness is coming, page-5

Perhaps Monday madness but which way? Perhaps a surprise out of the G20 will cause the markets go up instead of down.

It’s been discussed many times the DOW and S&P are in some form of triangle. Possible EW count is an a-b-c-d-e, with e still to be completed. Once the triangle is finished, the next major move will be down to new lows. However, this chart also shows there’s a tug-of-war going with the price action. A close above the cluster of two bearish candle signals should negate the bearish call for a dive to new lows. A close below the three bullish candle signals should confirm the big dive thesis. If another bearish candle signal appears soon, it could form the e wave high so watch out below. Indeed we all wait with eagerness of the outcome.