Even though I did not follow the market Friday afternoon, it is a good idea to look back and examine possible trading ideas.
Starting around 1515 ET, the ES Futures made a new high. The only related market that was confirming the new high was the Technology Sector. Everything else was not confirming the new high, and the VIX was decisively bearish. We then got a classic 3-Wave reversal with a 50% correction and good market symmetry.
Charles
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