A Few Post-Market Thoughts

Just a few comments.

1. It is bearish that Bitcoin came to my target location, compatible with an especially bearish count, and has so far fallen from that:

BTC

2. It is bearish that the S&P 500 rallied all day in what looks like a clear 3-wave move after falling from the recent high in what very well could be a 5-wave move. It is also bearish that it rallied all day, could not close the overnight gap (green arrow pointing to the remainder of the gap), and then closed below the midday high.

SPY

3. It is bearish that the Russell 2000, in a similar configuration, is also below a “bear flag,” could barely even enter its own gap, and has now lost the pre-COVID (2020) high:

IWM

4. And it is also bearish that breadth, as measured by the $BPSPX collapsed today (lower red arrow), falling from “Bull Alert” yesterday all the way to “Bear Confirmed” in a single day today (upper red arrow)—it usually switches to “Bear Alert” before confirming, but breadth fell so badly that it confirmed right away:

BPSPX

I am expecting lower prices.


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