Still valid
Even though I got stop-lossed last night, I am still looking for another long entry below 4120.
As we can see in main chart, we had 0.5 fib simple ABC correction in wave (2).
By alternation rule, It is perfectly natural that we will get complex and non-deep correction now.
And it bounced exactly 0.236 fib.
Now oil, food, metal, gold, are sky-rocketing or breaking up major trendline.
And junk bond, bond, tips, are showing weakness and might get rejection, even though disgusting Fed have bought CMBS, CLO, etc
Every economy seem so bad.
Yeah it can go down to 0.381 fib or even deeper such as 3970 ish..
But even it drops more and more, I do think stock market will NOT collapse right now.
There must be victims.
To generate victims, we need another new ATH.
.
Even though I got stop-lossed last night, I am still looking for another long entry below 4120.
As we can see in main chart, we had 0.5 fib simple ABC correction in wave (2).
By alternation rule, It is perfectly natural that we will get complex and non-deep correction now.
And it bounced exactly 0.236 fib.
Now oil, food, metal, gold, are sky-rocketing or breaking up major trendline.
And junk bond, bond, tips, are showing weakness and might get rejection, even though disgusting Fed have bought CMBS, CLO, etc
Every economy seem so bad.
Yeah it can go down to 0.381 fib or even deeper such as 3970 ish..
But even it drops more and more, I do think stock market will NOT collapse right now.
There must be victims.
To generate victims, we need another new ATH.
.