Bobby,
We're absolutely on the same page... Wave count included. I'm just concerned that for the bear case, we possibly don't see an extended 5th wave down, and after a sharp decline tomorrow, we spend a week or so on the upside. As that Princeton article stated, this is the sharpest drop in the history of the market from record highe, so the pressure may be building now for a reflex rally of a greater magnitude than we've seen thus far(which would of course be wave 2 of A).
If the decline tomorrow from the high runs more than 22 SPX points (the size of wave 1 of 5 of 1 of A), and if the selling continues into tomorrow, I will wholeheartedly agree that massive selling will continue, making this 5th wave down from Friday's highs look like a 9 wave move. Heck, I've got my trading set on autopilot now anyway, so the computer will automatically keep me short if the market maintains proper form for more down. But being able to call an extended 5th wave versus a normal 5th wave before it happens, I'm not able to do that just yet. Got any concrete tips?
Regards,
David |
