Update on Buy the Dip
Many are calling this the start of a new bull market. Momentum is dying out. I labeled it 1 to 5 to show that wave three is way short of a 1 to 1. Wave 5 hardly made it and ended in a rising wedge. Yes wave 3 is not the shortest but it seems clear this is a Corrective wave. Capital has left the US over this last month. If this was a bull market we should see capital coming in a lot stronger. At the very least we still need to test support.
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