just trying to make sense of the bkx here . i now feel it completed its wave 1 down on feb 11
it started it on dec 31 from a level of about 74 so it sold off 18 points or about 25 %
since then its doing an abc up which will probably rally to about the 64 level or the top of the 4th wave
gold or gld is the inverse of the bkx. you noticed gld stopped going up on feb 11 when the bkx started rallying
so soon we are going to start wave 3 down in the bkx if wave 1 was 18 i would expect at least 1.5 x that
or at least 27 . if the decline starts from a level of 64 we are looking at a target for the bkx in the mid 30's
or basically a 50 % haircut to the index. and gld should rally strongly imo
just my take
