This micro bounce at open should be followed by another push lower.
We can get extension of the decline to 15,400 and then turn up and start a corrective a-b-c up pullback in wave iv up targeting 15,500- 15,540
NQ played a micro a-b-c up corrective pullback at open and bears have a decent setup to push it down to make at least one more lower low.
The next target is the confluence of fibs at 4,441:
– 176.4% ext of wave i down and
– 138.2% ext of wave -a- down (red labels).
I can even see how ES can momentarily overshoot the lower edge of the price channel and test 4,337.
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