Having to take a quick peek what´s keep hitting in this market it is still the same as it has been every day since november. Oil and Energy stocks.
Double Eagle Energy getting +12% daily candles in bear day I would say that oil might be in 3/3/3/3/3 with degrees we do not even see unless opening weekly charts. Pick up any, Credo Petroleum or any other and it is difficult to see them very bearish.
We might be entering for very mixed market. When looking my own investment banks EW charts like Morgan Stanley, Credit Suisse from the passed year, no, I don´t think the are any serious crack cases at all – only corrections if any, still responding from contracting triangle which has not take even W3 top out yet.
So, we have charts for up, down and sideways.
Regular market I guess, having said that or to make any kind of conclusion I think more “speedy” charts might be found to the downside better way in future as for upside unless it is not energy resourche based, drugs or healthcare. And with some cases telecommunication charts & retail.
