I was just going to post that overall the last 2 months look like a bull flag. And I've come to the conclusion that it's now very possible we will make one more trip lower, break the 1927, stop at 1900-1913, then start up hard. And we could have another wonder rally, taking out the old high. For this to happen, we'd need a bit more up in the short term, probably up towards the 100 day, before falling hard for about a week, then we'd take off. I don't know yet how this would fit into the consolidation phase I was expecting. This 2 month down move has made this look a bit different than the few week sell-off I would have expected to start the consolidation/sideways movement. Like I said, I think it's looking more like a bull flag that we'll break out of after one last low and go towards the highs. We could still end up stopping near the old high and being stuck between it at the lows for a few months.
I was still a bit unsure about whether or not we need another low, but it looks to me like we should drop back to the lows and get those obvious positive divergences I mentioned before. If we don't get that last low, I'd go back to thinking we're definitely going into a few month consolidation phase...since this has been unclear to me, I've continued to maintain that anything under 1943 should be considered a good buying opp since in any scenario, I think the highs are at a minimum revisited in the next couple months.
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