From 11/10 thru 12/10 we have a solidly defined wedge pattern and a FIVE WAVE move. Each wave getting higher and higher while the support is fixed between 3925 and 3945. Can there yet another wave up? Not likely. Monday we see if the support levels get taken out. if it does iit should have no support till 3700 at the minimum. the CPI report was CHANGED right after the PPI report to allow for the same .4% rise. That doesn't mean if it hits the street will be happy. To the contrary the damage was already done today.
Looking for flight back into the dollar, a crash in Bitcoin, and a stead fast move up in 10 year yields.
Setup: Once again looking for that fast drop. I believe the chances are much greater here. this is a full year IF we find a bottom very soon. That has been the average length of time to fulfill the bear market LOWS! The area at which we did currently find lows was NOT anywhere near the lows it should have established. CRASH usually required FOUR trading days and each one closing lower than the last. That would place Wednesday as the biggest drop. if only a correction it should last THREE days and drop much shallower than a crash ,ow around 3,000.
Either way the next 2 to 3 days should see steady drops and stronger ones each of the days going forward.
MONDAY we see if any of this makes sense. Got to close decidedly lower.
I have been obsessed with the notion of a crash and especially in November and December when the recent lows never came near where it should have gone. The longer this count trend runs the more likely a dramatic fast drop ends the process. I think it hit the wall already.
AI
