$CMI May Produce a Fade-able Bounce Soon

$CMI is producing the first real discernible wave of note since its rally from the crash lows. It is therefore a good candidate for a wave 2 of primary (pink) degree. The divergence suggests that this leg may be done, though it may also need one more low (second chart below). In either case, we should see a rally to the orange B above us before an even deeper decline to orange C below us.

CMI

If it needs another low, it may look like this:

CMI


[UPDATE]: We pierced the orange box above and began descending toward the orange box below. I will file this under “Successful Calls.” I will need to monitor the price action from here prior to making a new call.

CMI


Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few months), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, Tier 1 members ($20/mo.) get access to the articles, Tier 2 members ($35/mo.) get access to those, plus counts on about 20 other instruments, plus Discord server access.


Leave a Reply

Your email address will not be published.