wahz: I am not sure I know how to say it any clearer without altering what I have already said, but I'll add this to see if it helps...
The market is ever changing and so should our assessments. Using the NYA and COMPX Indexes, I am "currently" expecting "at least" a test of the Sept 01 rally highs before the rally off the 7/24 "momentum" lows exhaust. However, if a test of the 7/24 price lows materializes from the retrace I expect, "if" the price patterns I illustrated in my charts yesterday break to the norm as I expect they will, we "could" see slightly lower lows if the retrace results in a test of the 7/24 lows. I am not saying we will see that test, but it is a possibility. And if that test occurs, I am not expecting a next leg down to develop from this retrace.
Now I know there are some "ifs" and "coulds" in my post, but frankly nothing is for certain and I am not going to be so pompous as to use absolutes such as "will"...gg
Regards,
LG
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