Santa just hit pause on the "bear" and we are likely to have yet another counter rally.
Remember that Santa can only brings so many presents and that we in my opinion are gonna resume the bear when:
Scenarios:
1: If we have a shallow retrace, we stop at zone 1 (Fib 0.3-0.5) and the hit "play" on the "bear" immediately.
2-3: If we are going above Fib:0.5 into zones 2 or 3 we are "on pause" properly until beginning of January.
The macro picture has not change.
I will update as the move progress.
Remember that Santa can only brings so many presents and that we in my opinion are gonna resume the bear when:
Scenarios:
1: If we have a shallow retrace, we stop at zone 1 (Fib 0.3-0.5) and the hit "play" on the "bear" immediately.
2-3: If we are going above Fib:0.5 into zones 2 or 3 we are "on pause" properly until beginning of January.
The macro picture has not change.
I will update as the move progress.
Comment:
ok we did not have a retrace. Next lines in the sand to look for is 2490 and 2390'sh
Comment:
I can see that I came to late with 2490 call as we already hit that level [a previous top)... let's see who it will resolve next stop if we are going under 2490 is the area around 2390 (another previous top)
