Preferred Count remains intact – Updated labelling and Fibonacci and break levels. Once again we are at a “3 of 3” move which on an intraday basis should provide some solid big winners once the move is underway. I would expect persistent selling to overtake the buyers and move more quickly to lower Fibonacci levels. Upside could be limited to smaller “bounces.” These are “personality traits” of “3 of 3” moves – also referred to as the Point of Recognition.
March 26, 2021