Market shenanigans

Today’s action had an obligatory reaction near the .618 retracement (QQQQ specifically).  There is definitely the possibility of a larger triangle ending for this current pattern, making it a triple three.  The two zigzags labeled in the last count here, leading up to the predicted current move to the downside, which may be the second X wave before a triangle for the “final three”.  If that is the case, the recent rally would be the “A” wave of the triangle.  I will post the specific labeling later, but I’m working on something else right now.  The reason I’m suspecting the current move is an ”x” wave  is because the recent small sell-off doesn’t look impulsive.  We we know more depending upon how the .618 retracement level is further respected.  If I am right it will be  rangebound for a little while ( 2 weeks or so), perhaps giving more people time to belive that: “the market is consolidating at higher levels” and will have more upside, just prior to a fierce drop.  There is also the possibility that the current rally is part of another zigzag or a flat.  It’s up in the air right now, and much like the drop at 35.20, it probably won’t be apparent until immediately preceding the move.

9:14 PM