Market Update for Wednesday, September 6th, 2023

Good afternoon, traders.

I’ve been hoping to see the bulls help us close the “Fitch Gap” but they’ve all fallen apart into tears and chaos here. But that may not mean anything too bearish yet, either. All we’ve been able to accomplish is a retest of this trend line:


Also, I’ve been trying to count 5 waves up and I was hoping for a bigger 5th wave up. This drop seals the deal that those 5 waves are now in. But it also opens the door to something surprising, I think.

I’ve been hoping to see a big ass macro triangle develop, something that took some time and filled out nicely. We’ve been speed running something though. We first began to rally faster than expected, then we had this drop faster than expected. What that could mean is this:

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Motherfucker snuck up on me, I think.

So, that’s the plan here, our little speed run through this structure might have brought us to the end weeks ahead of schedule.

Ok, let’s see what she does next. I hope you have a fine evening.

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