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Non-Tech : Kirk's Market Thoughts
COHR 154.52-3.0%Nov 7 9:30 AM EST
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To: POKERSAM who wrote (14833)11/28/2022 11:36:51 AM
From: Kirk ©   of 26439
 
Quite a battle at 4,000 today.
In all likelihood we are on the cusp of a five wave drop to the 2200-2400 area to end Super Cycle (II). We should accomplish this late 2023. Of course, this means there will not be time to get back to 4000 in 2023.

I took some more profits Friday at this triple resistance level (round 1000, 200-dma & potential iH&S neckline) and suspect we could see weakness until the next expiration or even tax loss selling exhaustion next month, but I'm hoping your "we won't see 4,000 in 2023" turns out to be wrong.

FWIW, if China loses control of their lockdowns and continues to refuse vaccinations, their ports will probably freeze like ours did in 2020 and we'll see your target....

...or they may accept the inevitable as a way to lower costs to care for their elderly at the same time lower their population but it will be at the expense of growth and millions of innocent lives.
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