Wave three down continued last week without pause. The Dow down, especially heavy on Friday, expect at least some follow through...perhaps a bounce for a few days to relieve the selling pressure.
There is no doubt what situation we are in regards the waves down, it's just a question of when the capitulation phase hits, we wait for the "MSM" to announce it soon.
Many months of rally have already been wiped out in only a few weeks...this is the character of the bear. Our small short position mantra, kept us us in the game easily without stress...weeks of steady rise against all odds and sense have finally broken down. We openly mocked David Hunter's final blow off rally as more of a propaganda hyped story...he is history.
This is only the first serious wave one down in a major three, once it bottoms, expect a relief rally wave two before a devastating plunge in November. Going heavy short here is not advised, wait for the confirmation bounce for big bets.
Months ago we suggested that the markets were primed for huge declines and Gold to surge, that could only eventuate via war...the favourite tool when the economy tanks....the ultimate distraction event.
Gold had a good week, many suggested that gold had put in a triple top months ago...the fourth knock will be the fourth turning and an explosion above $2100 U.S will result in overwhelming buying demand.
The resulting stock market panic from WAR, will drive PM prices into overdrive.
Summing up: Stay short, watch for a bounce relief rally coming...don't over leverage.
Appreciate a thumbs up, Good Trading & God Bless you all!
There is no doubt what situation we are in regards the waves down, it's just a question of when the capitulation phase hits, we wait for the "MSM" to announce it soon.
Many months of rally have already been wiped out in only a few weeks...this is the character of the bear. Our small short position mantra, kept us us in the game easily without stress...weeks of steady rise against all odds and sense have finally broken down. We openly mocked David Hunter's final blow off rally as more of a propaganda hyped story...he is history.
This is only the first serious wave one down in a major three, once it bottoms, expect a relief rally wave two before a devastating plunge in November. Going heavy short here is not advised, wait for the confirmation bounce for big bets.
Months ago we suggested that the markets were primed for huge declines and Gold to surge, that could only eventuate via war...the favourite tool when the economy tanks....the ultimate distraction event.
Gold had a good week, many suggested that gold had put in a triple top months ago...the fourth knock will be the fourth turning and an explosion above $2100 U.S will result in overwhelming buying demand.
The resulting stock market panic from WAR, will drive PM prices into overdrive.
Summing up: Stay short, watch for a bounce relief rally coming...don't over leverage.
Appreciate a thumbs up, Good Trading & God Bless you all!
Comment:
Target 33400ish and top out, a cluster of wave threes down from there.
It's on a plate for you!
It's on a plate for you!
Comment:
34150 is the top counter rally so far.
Either it's exhausted on Friday or a decline followed by a minor rally.
Take a flyer on the short side!
Either it's exhausted on Friday or a decline followed by a minor rally.
Take a flyer on the short side!
Comment:
34386 is a Fibonacci 61.8% retrace.
An ABC counter looks complete!
Wave three down serious is coming.
An ABC counter looks complete!
Wave three down serious is coming.
Comment:
Markets so overbought, fib 0.78% retrace of decline.
Did not believe it had it to climb retrace this far.
It must commence this wave three down beginning this week.
Did not believe it had it to climb retrace this far.
It must commence this wave three down beginning this week.
Comment:
The parabolic rise the past few weeks will be reversed.
Despite interest rates peaking, the damage is done to the economy, now comes the reaper.
A market on exhausted topping action, this week comes the reversal.
Despite interest rates peaking, the damage is done to the economy, now comes the reaper.
A market on exhausted topping action, this week comes the reversal.
Comment:
A market on steroids, parabolic and total belief in nirvana.
My previous thoughts are being obliterated as shorts scramble, a severely overbought market that refuses any rational.
We wait for the turn and opportunity, perhaps after Christmas?
My previous thoughts are being obliterated as shorts scramble, a severely overbought market that refuses any rational.
We wait for the turn and opportunity, perhaps after Christmas?
Comment:
Today the manic and parabolic fake out rally finished.
Always when the Fed ceases rate rises, an economic recession or worse comes.
The entire move since October will be reversed.
Always when the Fed ceases rate rises, an economic recession or worse comes.
The entire move since October will be reversed.
Comment:
It's been quite a while waiting for this rally to conclude, one more leg to go and that will be the final pop and the mother of all shorts will beckon.
Comment:
That final pop finished, now the rally has concluded and topped.
Seven months of BS priming and pumping will reverse and much more.
Seven months of BS priming and pumping will reverse and much more.
Waiting for the Fed's noise.
Adding short here at 33100.