HERE WE AWAIT THE CONTINUATION OF THIS " SURPRISE " RALLY TO APPROXIMATELY $14,300 I AM LONG TO $13,613 THEN I WILL SELL AND SHORT.
PRICES ABOVE $14300 ABOVE THE PURPLE DOWN TREND LINE OR ABOVE THE BLUE REGRESSION TREND CHANNEL PREPARE ME TO EXIT AND STOP OUT, AND WILL TRIGGER ME TO LOOK FOR RE ENTRY TO THE LONG SIDE. ( WAIT TO DISCUSS THAT WHEN THE MARKET GETS CLOSER. )
AFTER THAT POINT ,YOU CAN SEE THE STAIR STEPS LOWER BACK TO RETEST OLD LOWS AT $9,400. WITH A VERY LIKELY BREAK OF THOSE LOWS SOON AFTER THE DEAD CAT BOUNCE. THE SPIKE IN VOLUME AND ALGORITHMIC TRADING MAY TURN THE DEAD CAT BOUNCE INTO A 1 HR EVENT FOR US HUMANS. IN WHICH CASE IT WILL LOOK LIKE A HOT KNIFE THRU BUTTER.
WITH A LOWER TARGET OF $7,800
I WILL ADD MUCH MORE DETAIL AS WE PROGRESS THRU THE WAVE.