No one is going to get the exact timing of this next corrective move down but its coming. Keep piling into the shorts if you can.
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Failure to hold the 200 dma today will send us lower immediately. A test of 2600 is very likely at this point.
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Short term profit taking on the shorts is logical at this point. Long term the bear market does seem to be taking hold and a correction to the longer term trend will most likely happen. A correction to 2500 would be healthy.
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I am calling for another 10% decline in the short term. This will take us to a test of the current bull market trend around 2300.
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Waiting 2800 to short.
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Short now folks
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target area
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FED stopped me out of this short. I am working on redoing my idea. I am very cautious but I believe we might be in for a melt up the next couple of weeks.
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It is safe to enter short again, target still the same.
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Correction has been postponed if you are trading short term bias will be long. I have hedge my shorts. What goes up must come down. This is a bubble waiting to popped and the needle is getting closer and closer everyday. I cant suggest stops unless I know your trading timeline.