As mentioned in yesterday’s post http://www.lifestyletrading101.com/2017/01/31/tuesday-c-wave-tests-breakout-region-apple-aapl-beats/
My hunch was that FB would beat:
FB has earnings tomorrow, I believe – my guess is it moves up.
Yesterday, AAPL beat and today FB beat – should generate positive sentiment in the tech sector overall as we are near all-time highs.
Intraday, we had a sharp and deep drop back to below 2270 and spent most of the day there — it could potentially be a wave 2 drop.
On a zoomed in perspective – the wave 2 drop potentially happened from the open down til exactly noon. Move over 2278 is needed for more confidence.
Leading into the close, anticipation for FB earnings likely propped up the market.
Yesterday’s chart showed potential y completion of a 4th wave cwave – and it looks like overnight we had a strong rally that spent the entire morning pulling back in a wave 2 drop as noted above.
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