Okay, my last chart was wrong in the short term, but overall I'm still bearish. I don't see us breaking up over $7700 in the next few days, but I do see a huge reverse pooping bum pattern on the 3 day chart. You can also see it on the weekly. However, the 3 day chart has been excellent for reversal 9's using the Tom Demark Sequential and they are within this big bum. Traders who know this pattern would have got out at the green reversal 9 at the apex of the right cheek, though it didn't even take the sequential to see this pattern coming.
Even if you're not familiar with pooping bum patterns, you already know that pooping upside down would be a disaster, and that's what we are likely headed for. Earthly physics have caused the turd to flop over onto the left cheek. Further legitimizing this pattern is a "reach around" or "wiping backhand", which comes from the same direction that the turd is pointing. When you've got this on a 3 day or weekly chart... it's a pretty big bearish bum guys. Traders couldn't sound more amateurish than the moment they say, "the bears are hungry!". They aren't hungry! Their guts are fully distended and they just want to let it go and poop all over everything!
A 9 candle could reverse us and we could also bounce on the support line again. This is a tough one to call. However, if we dip below the support line (white line) during the 8 candle or while the 9 is being made all bets to the upside may slip away faster than a greased turd on a waterslide. This doesn't mean we can't have any little bounces or rallies during the coming days and weeks, but I expect an overall 50% excremental push down from the apex of the right cheek, which would bring us down to about $5025 for possible support.
One last thing: Take this ANALysis with a grain of piss!
Even if you're not familiar with pooping bum patterns, you already know that pooping upside down would be a disaster, and that's what we are likely headed for. Earthly physics have caused the turd to flop over onto the left cheek. Further legitimizing this pattern is a "reach around" or "wiping backhand", which comes from the same direction that the turd is pointing. When you've got this on a 3 day or weekly chart... it's a pretty big bearish bum guys. Traders couldn't sound more amateurish than the moment they say, "the bears are hungry!". They aren't hungry! Their guts are fully distended and they just want to let it go and poop all over everything!
A 9 candle could reverse us and we could also bounce on the support line again. This is a tough one to call. However, if we dip below the support line (white line) during the 8 candle or while the 9 is being made all bets to the upside may slip away faster than a greased turd on a waterslide. This doesn't mean we can't have any little bounces or rallies during the coming days and weeks, but I expect an overall 50% excremental push down from the apex of the right cheek, which would bring us down to about $5025 for possible support.
One last thing: Take this ANALysis with a grain of piss!
