$ES Super-Duper Nest and Some Target Ideas

I continue to favor the bear count here. Here is how it stands presently, little changed from this morning, with the exception of additional nests. Five nests on this count: minor (green) then minute (blue) then minuette (orange), subminuette (red) and even micro (purple). 1-2-1-2-1-2….. Turtles all the way down, one hell of a coil.

ES

Now, the typical place we would expect minor (green) 3 to go is the orange box. But I have a feeling that we may go much lower, either as low as the 2.0 extension of minor (green) 1 from 3, or even the 2.618 extension. Why? Because of all those nests. They’ve all wound up, and they’ve all got to unwind too, and there’s a lot of them to unwind.

Above 4700 the bear count loses credibility. Above the two big highs and it’s cooked.

But, if we start dropping: if there’s a bear’s paradise, this is it.

ES


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