After the 3rd and final presidential debate, the market hit resistance at 2145 overnight and turned back down at the open, forming an a=c potential b-wave that tested the prior wave 2 low at 2126ES.
Nasdaq – after hours – from some earnings reports — is breaking to the upside. Could be a clue for the other indices to follow potentially.
The size of the 8am drop after Draghi’s comments was from 2145 to 2131 = 14 points
The size of the c-wave drop was from 2141 to 2127 = 14 points
Hence, we have a=c – in what appears to be a a larger B-wave – assuming the top of the A was last night during the presidential debate.
Looks like the first resistance line at 2145 was tested and we reversed down towards 2126.
If that holds, we may attempt 2145. If we are able to pass that, the next resistance would be 2152.
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