3 possible bear counts, C up from last Dec low ended with a slight failure at 25.58, or 25.58 was C of a large bearish developing contracting tri, and another count that 25.58 was "b" and we now need to decline below 20.89 in "c". As I stated earlier bull markets often start "ugly" and if bullish that really has to be the case here as the recent rally phase shows nothing clearly bullish IMO. Bottom line a friggin mess and I am not willing at this time to wager much at all either way.
Senor
thanks. those are my counts too. fail here and we might tumble a ways. Maybe a long ways.
no problemo, and frankly given the extent of this pullback (especially in miners) it's really hard to see any bullish count that gives me any confidence. So far today I see a corrective looking upward bounce and gold only a few dollars off decline low. I am 100% cash in all accts and happy to be there, IMO there is significant downside risk, it may no play out that way but today's action IMO offers nothing bullish. Rather not try to pick a low here, rather let the market turn higher (if it does) and "prove" itself to me.
Edited by senorBS, 21 September 2017 - 01:43 PM.