Perspective … we made a higher low today. Let’ that sink in …
Now, my stance is to remain bearish and I do believe we are in the very early stages of a smashing wave 3 and, add fuel to the fire, it’s a “3rd of a 3rd” wave down. Wonderful …
Near term, the market DID NOT go up to our target up around 3956 but it did smack right into the trendline giving us the polarity principle.
Two scenarios:
- Bounce not complete and we gap up and above or move strongly into and thru the gap shown and finish the a-b-c sequence
- We did a “minor” wave 1 down and finished a “minor” wave 2 and down we go … wouldn’t be surprised to see if it closes the gap tomorrow on the open and then down …
