Pretty strong down moves in a wild ride likely a setup for BTFD, CPI numbers Thursday AM the catalyst for retracement move.
Probly don't wanna be short right now. Could tank again if more geopolitical news smacks it down but absent adversity, expect a lift.
Any lift will be a countertrend move in a primary downtrend.
Likely target is the 0.62 Fibo retracement...
I have classified the current downturn as a Primary wave 2. This should be an ABC corrective wave. These waves last half the length of time that Primary wave 1 did. All my acquired data dates back to 1932 where I believe our current market Grand Supercycle run began.
Based on primary wave 1 lasting 86 days, wave 2 could last around 43 trading days from May 1,...
