the 1960 level I've been waiting a month for has finally been reached. there is a series of ABC's in a converging formation, creating what is likely a diagonal C wave on the bigger picture. The 3 horizontal red lines are the levels I'll be watching for a reversal confirmation. Each successive one provides higher confidence in the turn.
My bias is to the short side for a resumption of the higher degree bear trend. If the market somehow keeps going, past 1970, then it will be time to step back and re-evaluate. Over the weekend I'll post some bigger picture market risk profiles.
My bias is to the short side for a resumption of the higher degree bear trend. If the market somehow keeps going, past 1970, then it will be time to step back and re-evaluate. Over the weekend I'll post some bigger picture market risk profiles.
In particular, you should spend no time at all thinking about those rosy scenarios in which the market goes your way, since in those situations, there's nothing more for you to do. - William Eckhardt