Been awhile since I got a chart out on SQ, so here it is. I believe that we are still looking for wave 2 bottom, and we are in a flat corrective structure. This means that our wave 2 bottom should be somewhere around where a bottomed. From there I see us having a wave 3 PT of 265+. I will be watching for the dip and looking for bullish divergence and algo buying to determine my entry.
Note: the bearish divergences on rsi and macd (as well as bearish cross).
Other possibilities: 2 has already bottomed and we go moon mode now. Also possible that we are still in the primary 2 correction, if so then we could see 215 area as our low. I don't like either one of these as much, but am mindful of the alternatives.
Note: the bearish divergences on rsi and macd (as well as bearish cross).
Other possibilities: 2 has already bottomed and we go moon mode now. Also possible that we are still in the primary 2 correction, if so then we could see 215 area as our low. I don't like either one of these as much, but am mindful of the alternatives.