I zoomed us out for this post to get a better/more obvious picture of where we are going. If my count is correct, we should move higher to finish out this wave 2 next. I have a target box marked showing where I anticipate this move to end. This move shouldn't take very long and be done by tomorrow. I would not be surprised if we don't raise all the way to my box. This is just a "normal" retrace. After that we should fall pretty hard and would be a good place to potentially short the market.
When we get more details, I will update again. For now, be patient and wait for confirmation. There is still plenty of meat left on this move down.
Bonam Fortunam,
--Tyler
When we get more details, I will update again. For now, be patient and wait for confirmation. There is still plenty of meat left on this move down.
Bonam Fortunam,
--Tyler
Comment:
With all the overlap at the beginning of this wave i down, we may have been forming many 1-2's. If that is the case, then we should go up and make OML before going up again for wave ii. This would make sense given all the stocks I track are needing at minimum a retrace.
