Re: breaking 1?... After hearing about City, seeing the futures and still looking for capitulation... I pulled up an S&P chart to see if OEX would make a confusing overlap. And it hit me... If 3 isn't done to the downside... then it doesn't matter if OEX overlaps 1 to the upside. Regardless, I'm being incredibly stubborn and staying short for a retest of the lows.
If this is what will happen then my short position goes uncomfortably negative because I don't know how high (ii) of 3 would be or how long it will take, "decay" (iii) of 3 of 3 could be much lower than I originally thought for OEX. I will be watching 818 and doing nothing. Maybe this chart and my count is all hogwash but I'm taking the pain staying short, watching and waiting for gains. I don't like posting this chart. I would much rather see 4 just under 1 and capitulation in 5.
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