UPDATE: THE BATTLE FOR THE 200's -- Intermediate Bear Trendline
From my last publishing, we broke the wedge, and thus are playing out Scenario 2. This is an update of the possibilities
that we face.
Scenario 2a:
This is a tweak from my previous scenario 1. If bulls fail to break the purple triangle in the upcoming 36 hrs, then we
will see a re-test of the 210 support -- which wasn't exactly tested last time. But, if we go near there again, I doubt it will
hold, and thus go straight for the final support line for the 200s. (Yellow Line)
Scenario 2b:
This is the scenario I'm leaning towards, and it's an updated version of my previous Scenario 2. I no longer think the
Head & Shoulder pattern is plausible. Instead, I'm thinking a triple top will play out. And, if it does,
then we will head down and test the bull trend line. And, in this scenario, I have doubts the bears will
break 215 (maybe not even 218) -- which, if so, will continue the higher lows we've been seeing since 210.
I'll update further as more develops.
that we face.
Scenario 2a:
This is a tweak from my previous scenario 1. If bulls fail to break the purple triangle in the upcoming 36 hrs, then we
will see a re-test of the 210 support -- which wasn't exactly tested last time. But, if we go near there again, I doubt it will
hold, and thus go straight for the final support line for the 200s. (Yellow Line)
Scenario 2b:
This is the scenario I'm leaning towards, and it's an updated version of my previous Scenario 2. I no longer think the
Head & Shoulder pattern is plausible. Instead, I'm thinking a triple top will play out. And, if it does,
then we will head down and test the bull trend line. And, in this scenario, I have doubts the bears will
break 215 (maybe not even 218) -- which, if so, will continue the higher lows we've been seeing since 210.
I'll update further as more develops.