NYSE Scenarios Week of 3/23 (3 of 3)
Chart 3 is suggesting next support rail is 8% lower. This extends from 1984.
Notice also that every major bottom showed a series of bullish divergent lows. We only have our first here, so a long way to go towards a bottom.
This leads me to believe:
1. We are not at the bottom
2. Monday's gap open will lead the way to next target. Gap down look for retest of breakdown and fade. Gap up, look for fade then test resistance higher.
3. You should be prepared for a 28% move lower.
Notice also that every major bottom showed a series of bullish divergent lows. We only have our first here, so a long way to go towards a bottom.
This leads me to believe:
1. We are not at the bottom
2. Monday's gap open will lead the way to next target. Gap down look for retest of breakdown and fade. Gap up, look for fade then test resistance higher.
3. You should be prepared for a 28% move lower.
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