Yet another day of consolidation – this should complete a 4th wave. Yesterday’s high happened in 3 waves higher than the top of iii – which is allowable. So the labeling best guess is below.
We got a 5-wave c-wave into 2069 followed by a 1-2 setup into the close.
Notice the pink line from yesterday was tested once more today and it held. Former resistance as support.
In the unlikely event that we fail to rally into Monday, then we will likely turn back down and retest the 2035 level and then the 2012 level.
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Meanwhile, since Japan and Europe have negative interest rates, I thought this video from the Wall Street Journal is pretty good at giving a high level understanding. Here’s everything you need to know about negative interest rates.