We have a possible bullish reaction in Cindicator (CND) over the last few days. The CND chart falls into the 'better bottom soon' candidate as it is now below the .786 retrace of its all time low to high. Ideally, that is that last fib level you'd want to see a wave 2. Although as long as above the all time low it is valid according to the writings of Elliott in the 1930's. We should complete a 'nano' 5 wave fractal soon, requiring a move over .02. And, if we do not break the recent low after that, I"ll be watching for the next degree to setup a rally to 15 cent region called out on my chart as (i).
Note that free 15 day trials are available for our trading room and community on Elliott Wave Trader, where I am a full time analyst. You'll rub nose with, professional, amateur and traders in the learning process, while getting trade calls and ongoing direction for the market. No credit card is needed for a trial.
