Doomsday.

Here on the daily chart, we have a rather rare signal. A daily WAVE PM cross, with the CCI pointing bearish.

Here is the previous instance, November 2018, where this signal fired. This resulted in a 50% drawdown.


We'll know pretty quickly if this scenario is playing out, where if price can recover above the 1900s in the next few days price should hold as an easy opportunity to stop out. If not, expect freefall for the next several weeks. This is an incredibly reliable signal on the daily chart. It happens only one or two times a year and has resulted in a percentile move in the double digits every single time.

We'll need a close beneath 17500 today for confirmation.