Our loving but always dropping TASI will continue down to 8400-8800 for several reasons.
1- The macro market. (Mainly)
2- It's broken down a major and well-defined trendline since 2008 and shows signs of rejection. Bears are in control at this point in time.
3- All major long term fib lines align at this point.
4- An order block (weekly) that followed the recovery of the market after the COVID crash was formed but was never retested as of yet.
Should the macro market continue to deteriorate, there is a major trendline at the 7000 range to hold us up. Breaking any further than than, let's say to the 5600-6000 range, is a fire sale 🔥 🔥
Well that's most of the bad news. There will be good trading days that will follow. Just stay focused on growing your capital legends. So when the bottom of the market truly arrives, we will have the power to invest for the long term. Take care.
1- The macro market. (Mainly)
2- It's broken down a major and well-defined trendline since 2008 and shows signs of rejection. Bears are in control at this point in time.
3- All major long term fib lines align at this point.
4- An order block (weekly) that followed the recovery of the market after the COVID crash was formed but was never retested as of yet.
Should the macro market continue to deteriorate, there is a major trendline at the 7000 range to hold us up. Breaking any further than than, let's say to the 5600-6000 range, is a fire sale 🔥 🔥
Well that's most of the bad news. There will be good trading days that will follow. Just stay focused on growing your capital legends. So when the bottom of the market truly arrives, we will have the power to invest for the long term. Take care.