Wednesday was a second up-day from the recent swing low. If Thursday is going to be a down-day the market is in crash mode.
On a daily chart, for the current correction we are either going to get:
(1) A lower high below August 17 high which implies a triangle pattern and is an indication of a very strong downtrend, or
(2) A higher-high above August 17 high, in which case we are going to get an ABC-wave pullback pattern, once completed the larger degree downtrend should resume.
- Lower-high target is 2173 - 2189 on NQ.
- Higher-High target is 2212 - 2264
