If so that means markets get the rest of today to finish their topping action. Odds not certainties! But the odds of an imminent FAZ reversal (meaning banks and other financials are about to go down) is 95% according to my model an that is about as high a percentage weighting that I ever offer. If the markets close just as that 2nd dip is made then you can bet on selloff on Monday. In other words, it would signal to buy FAZ and other reverse market ETFs at the close. If this model is correct then they should gap up on Monday so you can set tight stops of 1%.
Since this is an ending diagonal, the final wave should be 5-3-5 (A-B-C) where C is more powerful than A. So here is the zoom in chart of just that final wave down in the triangle. Of course calling the action minute by minute is the most difficult type of technical analysis meaning highest risk of being wrong. The market is semi chaos in motion. But it is not without order or I would not even bother playing at this hobby.
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