I Tried Being Bullish, the Market Didn't.Eeek!
Messy day today. Heading into today everything was on good supports. I should caveat this by saying we also closed at what may be good supports ... but today we might have seen some real damage to the trends which will unfold in the coming weeks.
The wave C / D leg thesis has failed with a new low. I was stopped out some longs and exited the rest on the little rally to retest.
We may be about to see the full play out of the big bear forecasts.
We're very close to the point where the bull trend would typically be considered to have failed.
I'm not talking "Can retrace a little more" ... I'm talking it's done!
Very good time to consider if are comfortable with what you have at risk.