You are speaking of Tom Bowley I believe and I'm sure he is aware that 20% has failures.
He is more Bullish here than I am. I post his stuff because it balances in some manner, Pretzel's Bearishness. From my end I can see both sides which is what makes a market. I do think we may surprise to the upside whether its a path like you suggest or something different If IWM holds this breakout we may go a good deal higher in the near term
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