- If market is indeed going through correction, then it "must" go through a-b-c path (in blue)
- QQQ completed blue a last Friday (you can clearly see 5 subwaves in a)
- QQQ is working on blue b this week, which is broken into 3 sub-waves. red "a" is 566, and red "b" is 557, both were exact points I mentioned on Monday
- Now, if this is indeed blue b, then it will complete with subwave red c. If we give some safety margin, we could mark it to 571-572 range.
- If market is "indeed" going through correction phase, then we should 'NOT" see QQQ going higher than this region before turning south to start blue C
if market does not turn south in that region and intra-day action shows strong momentum, then, it might be the time to stop loss out. Of course, nothing is 100%, but this is the highest probabllity that i can think of right now .
