Benkea, there is some question and debate about whether we put the 2nd leg of the W bottom in monday with the first leg into a couple of weeks ago, i don't know, but without a doubt we had a crash in the secondary tech stocks and small caps.
There is no way to know how this thing will now act, are we off to the races, will be do a zig zag base for several months, will we rally up here a little, then make a corrective wave 2 higher low.
There is another thing that shahar brought up a while ago, the forgotten 9 month cycle that threw everybody off last year because it inverted and became a july top, maybe this is a bottom in the 9 month cycle and this is like spring 97, where we rally into an october top.
I'm looking at stocks like Amzn and covd (and tons of others) that look like the could put in a symetrical triple top in october.
or is this like the nikkei, where we rallied from the 50% retrace, then rolled over into the bear.
for now, i think there are more shorts that need to be killed before we head down again and i'm looking at the downtrendlines as resistance.
i'm with security trader, i don't care to be an investor in this market, just a trader.
b |
