[vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row]
[vc_row][vc_column][vc_column_text]
Good evening to one and all.
Again,
another day of juicy action to sink our teeth into!
The rally over the last few sessions is proving to be a fools errand, and is disappearing before our eyes today.
What lies ahead for the market is nothing short of catastrophic if these short term patterns are proved correct.
So much action, and not a moment to loose, down to business.
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
S&P 500.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row][vc_row][vc_column width="2/3"][vc_custom_heading text="1 hr" use_theme_fonts="yes"][vc_column_text]
[/vc_column_text][/vc_column][vc_column width="1/3"][vc_custom_heading text="4 Hours" use_theme_fonts="yes"][vc_column_text]
[/vc_column_text][vc_custom_heading text="Daily" use_theme_fonts="yes"][vc_column_text]
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_column_text]
The S&P is hanging on for dear life at the 2700 level this evening
after dropping almost 100 points off the recent highs.
That action puts a nice lid on the recent rally
and leads us ever closer to a wave '3' crash in the coming few weeks.
The recent ranging action now looks complete as a large wave '2' irregular flat.
Where wave [c] of '2' stopped short of breaking to a new high above wave [a].
The internal structure of the flat counts very well as 3,3,5,
and todays decline certainly seems to be creating a five wave decline back into trend.
So the big picture is lining up quite nicely as at stands right now!
I have been bearish for a long time now.
And this has been to my detriment of late.
These rallies have pushed the upper limits of my interpretations.
But;
today is one of those days where the elements of this next big move
seem to have clicked into place.
Now we must look for another impulse wave off the recent high to indicate that we are on the move lower in wave '3'.
Tomorrow;
Wave (iii) of [i] should complete early tomorrow,
And then wave (iv) will likely correct back towards 2700 again.
I think wave [i] down will complete before the week is out.
[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_separator border_width="5"][/vc_column][/vc_row]