On September 19th last,
the FED was about to cut rates again as the market was just hanging on below its all time highs.
The whole world was looking for the rally in the stock market to continue,
but the wave count was calling for something completely different to happen!
I am still sticking with the bearish interpretation,
against an onslaught of opinion on why the market can only going higher.
this coke addict can just as easily have a heart attack tomorrow.
And that is why I am sticking to my guns for now.
If the sideways action is a correction in wave 'ii' as shown,
then tomorrow will begin a sharp decline in wave 'iii' of (i)
which should fall below 26700.
watch for wave 'ii' to complete below the high and wave 'iii' to begin tomorrow.
Here is the chart from that night.