capt. - I don't think I used the word collapsing, although I may have. A 25% drop in one month is pretty healthy. Back near the top I predicted on my web site that oil would drop 50% from its top pretty quickly. We have half of that. Bubbles burst eventually. Nothing goes straight in any direction. That could explain today's rise.
"If commodities are collapsing, how was it that oil was up almost two bucks today?"
Then you ask about the trend change. On the 11th we hit 1313. On the 13th I said the trend had changed. We have not gone above 1313 and I don't believe we will see it again for a couple of years. On the 15th the pattern ending wave 2 came to an end so technically wave two did not end until 1300.
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