Loading ...Update on “to B”
The ultra bearish wave 2 up wedge count flew the coup last week.
The crash count now option is alive and well, yes.
But it may also take a while for more and larger cockroaches to show up.
Last night, Sam flipped over to the triangle B count I first proposed here in mid Jan.
Another analyst I respect also introduced it on Wednesday, for the first time.
Its basically analogous to chartology’s half way pattern.
We’ll have to see how it goes. No doubt a mad scramble is on for some lifeboats.
Thanks, Pedro. This chart answers a question that I have been pondering, which is this: At what price point will the next BMR begin, 3800, 3700, or lower?
Another related question: Suppose that the lower support line were drawn parallel to the upper resistance line, would that portend a substantially larger decline is imminent?
If this structure is correct, black d MUST be an abc.
And the subwaves must follow certain fib relationships.
Look for a bounce soon, then divergences on a lower low that follows.
If they are not there, toss this view out. I think it has merit.
Always have a backup plan. At least set stops.
The bounce will be shorted hard, you can count on that.