The timing lines are gathered here, and the 5th wave target has been met. The losses over the past few weeks could be a 4th wave correction or the beginning of a substantial market collapse. Either way it looks like the end of this bull market is very close at hand. The bold yellow line is the top of wave 1. Breaking the top of wave 1 would be a confirmation. Volume does not indicate to me that this downward move is over, but the price sits right on the bottom of the Andrews Pitchfork which would normally offer support. I'm looking forward to next week for answers.
No comments:
Post a Comment