Loading ...POR soon?
A POR (Point of Recognition) wave is when it becomes Unequivocally Clear
that the problems that SEEMED to be brewing (endlessly) just beneath the surface, Are Now Here For Real.
That is the essence of a 3 of 3 of 3 wave.
If that is coming soon, stand clear.
I’m unable to endorse this count ATM, but the consequences are serious enough that a heads up is called for.
The abrupt reversals from what appeared to be a kickoff move underscore that concern.
Joe Taverna’s count this evening for entire rally from October lows:
Soon perhaps but not here. POR’s which are when the critical mass of players in unison recognize the real trend typically occur well into phase 2 of bear (and bull) markets. It appears to me phase 2 just began at the top in Feb. I think this recent sell off is more a function of deflation beginning to take hold. I would venture to guess when the market violates the October lows we will see our point of recognition.