In this morning’s post, I used the language of taking out the overnight low “with any kind of violence,” and here’s what I mean by that.
I am skeptical that they will make it this easy to short the market after the big decline we just had without torturing the bears at least a little bit first.
So, it’s possible that we do take out the overnight low, but only by a hair, only for the bears to get stuffed for thinking it’s this easy (it might be this easy, but I don’t know that yet). I am looking for some kind of 5-wave decline from my pink “B” up there, and any will do, including this very smooshed count, as it doesn’t break any rules. It’s just that 3 can’t be the shortest, and if orange 5 is tiny, then we’re good.
IF we do end up taking out the low with some real violence, only then will I begin to seriously consider the dark targets from this morning.
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 weeks or so), 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, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.
One thought on “I Am Watching This Trend Line Closely”