Three Little Bears
Three Little Bears
Bottom line: The trend is down – only question right now is whether or not we’ll get a significant bounce tomorrow and maybe the day after:
Orange: A.k.a. the ‘lazy bear’ – we don’t bounce and slowly melt down towards 810-800 over the coming days – only minor retracements anticipated.
Blue: A.k.a. the ‘cruel mistress’ – we paint one last head fake [i.e. Minute {ii}] after which we drop into free fall mode – dead cat bounce possible around 840 but we should land and complete around 800.
Green: A.k.a. the ‘rapid bear’ – we keep subdividing into a smaller Minute {ii} bounce, but fail to reach 900. This would be in line with a possible Primary {3} scenario – the implication of which would be that we rapidly descend to the downside and eventually past 800. Of course it’s possible that we follow this path and it’s a variation on Blue but after some consideration I decided to assign it to our most bearish count.
There you have it – your three bears 🙂
I have more charts tomorrow – the TNX looks very interesting right now. Have to turn in though – see you tomorrow morning.
Cheers,
Mole
