I presumed the message would be made clear, and the acceptance stage entered. Apparently there are still enough delusional traders willing to buy. Here's where I see it heading: $3800 or $3950. Then again I wouldn't be surprised to see a rip to the upper channel line. How do people still not see this is going to implode? Investors believing they are getting a bargain will only become more exposed to massive downside. Don't be fooled. This has a shelf life.
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Appears the upper channel line is where this is headed. I am now also watching $4012 strongly, which I think will be the next consolidation level. Plan to go short again around 11/11/22.
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Important day today. Will the FED reinforce a move higher or send the market down? Watch for a false plunge to $3800 in ES1! before rallying. Not saying this will happen, I have no clue. Just saying a false drop would be on par for previous reactions to FED meetings.
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Watching for a bounce back to the red trend line. If there is another rejection of the trend line, I will be going heavily short, with a target of $3800 to $3550 if wave B is in fact carried out. If it is not, it is probably because an external factor, which nobody is aware of currently, becomes public and then there is no telling where it will go.
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