This chart looks bearish to me (short term could be bull to 250ish though).
I am seeing us in a WXY correction that could see a rally to 250 before the final leg down for our supercycle wave II. 100% extension confluence here with the 61.8% retracement puts the II bottom at 165. That likely will happen when the indexes actually top (reference my SPY, QQQ, IWM updates on youtube or here for my opinions in that regard).
RSI weak here and trading beneath a downward curling 30 week MA not good signs, those point towards bear count being correct.
As always dont trade specifically based on my opinions and always do your own DD!
I am seeing us in a WXY correction that could see a rally to 250 before the final leg down for our supercycle wave II. 100% extension confluence here with the 61.8% retracement puts the II bottom at 165. That likely will happen when the indexes actually top (reference my SPY, QQQ, IWM updates on youtube or here for my opinions in that regard).
RSI weak here and trading beneath a downward curling 30 week MA not good signs, those point towards bear count being correct.
As always dont trade specifically based on my opinions and always do your own DD!
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