Correct...black swan type . Understand even if ED forms and
rally follows that would be wave 4 then PLUNGE in Wave 5. So Monday
we shall see what unfolds. There is a cycle due and failed
cycles lead to plunges (notice 3 weeks down and 1 week up bounces
of late). Let me repeat, best to respect the trend until
evidence changes - remain flexible and monitor level to level.
Needless to say, Bears are in control
Steve, if price accelerates down
SPX Current Views
Posted by mirhamedali on 1st of Oct 2022 at 02:31 pm
Steve, if price accelerates down immediately on Monday then it becomes impulsive to the downside and the ED is off the table right?
If it becomes impulsive then it may bust through all the divergences. That may trigger a waterfall decline.
This could be a really nasty three of three of three down.
Or.... This could only still just be a 1-2 which means even more bearish to the downside. Very interesting two weeks ahead of us.
Jobs numbers on Friday could be fireworks if numbers are strong. Based on jobless clsikes they may be strong
Correct...black swan type . Understand
Posted by steve on 1st of Oct 2022 at 02:40 pm
Correct...black swan type . Understand even if ED forms and rally follows that would be wave 4 then PLUNGE in Wave 5. So Monday we shall see what unfolds. There is a cycle due and failed cycles lead to plunges (notice 3 weeks down and 1 week up bounces of late). Let me repeat, best to respect the trend until evidence changes - remain flexible and monitor level to level. Needless to say, Bears are in control
Steve, would this morning's action
Posted by greggone on 3rd of Oct 2022 at 10:29 am
Steve, would this morning's action already negate an ED?
Interesting on failed cycles. Didn’t
Posted by bpozdoll1717 on 1st of Oct 2022 at 09:53 pm
Interesting on failed cycles. Didn’t know that. Thanks for sharing as to potential plunge.