Here is a chart pattern I drew up tonight. This is currently my " B" chart but it is very likely to be come the " A " chart. This current mini sell off that we had over the weekend cannot fit inside the old scenario. The my process is very specific.
Every completed wave forecast the future more clearly. So things can change and are fluid. I have had to flip flop back and forth over the long term market direction several times. And here is another. This is just unavoidable during this period. After some time however, the possibilites will become more set in stone.
We just are not in that period here. But we are getting close.
I have to competing scenarios. Both scenarios have a rally happening now. And then differ in the ending. Tonights scenario B tops at near $10,000 - $11,100, and does not go as high as scenario A to the near $15,000 price area. After the top, scenario B has a devastating new low near $3750. That is way way down there folks. That is a 56% loss from here. And a roughly 64% decline from the projected peak area above $10,000. In the coming days and weeks we will see a rally, and if the rally peaks at or near these numbers, then we will know Chart B is the correct chart. If it is , I will become very bearish. This is not the type of sell of you want to ride out the storm thru. And is the type of sell off worth liquidating an entire portfolio over.
Every completed wave forecast the future more clearly. So things can change and are fluid. I have had to flip flop back and forth over the long term market direction several times. And here is another. This is just unavoidable during this period. After some time however, the possibilites will become more set in stone.
We just are not in that period here. But we are getting close.
I have to competing scenarios. Both scenarios have a rally happening now. And then differ in the ending. Tonights scenario B tops at near $10,000 - $11,100, and does not go as high as scenario A to the near $15,000 price area. After the top, scenario B has a devastating new low near $3750. That is way way down there folks. That is a 56% loss from here. And a roughly 64% decline from the projected peak area above $10,000. In the coming days and weeks we will see a rally, and if the rally peaks at or near these numbers, then we will know Chart B is the correct chart. If it is , I will become very bearish. This is not the type of sell of you want to ride out the storm thru. And is the type of sell off worth liquidating an entire portfolio over.