NDX, May 10, 12:15pm:
I am changing my s-t outlook for tech. I no longer favour that there is another pop coming to finish the immediate upleg into the Wednesday high. It is more likely at this point, that we are already in the 'B' down off Wednesday's high.
This is significant for a wiggle trader or those hoping to position at the end of this rally by taking some longs off and getting some shorts.
The second worst case for bulls here is that this B goes back to the lows, giving us the first two legs of a sideways 'flat'.
(The previous s-t outlook is saved for posterity in the lower chart below.)
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