YM Gameplan For Remainder Of Year August Dump
I believe this is all she wrote on the rally inside of this monthly bearish rising wedge and that the prevailing downtrend will continue as that is the higher timeframe trend. This rally has been a counter trend rally into the main trend.
Volatility will pick back up.
First will likely sell off to the 200sma Daily, bounce into the trendline and roll over. Once in the green box it will rally back up into supply marked with the other trendline in August.
I believe end of August will just create a massive dump slicing through that wedge bottom and dropping 20% in three months.
By November we will get a small rally back up into resistance marked by the red rectangle, or the bottom of that October rally. Into the declining 200sma Daily. Prime selling area for another
20% drop. This drop will happen after the new year in 2025. December will end about 31,500 as the close of the year.
Finally, October 2025 will be the capitulation dump down into the support zone for another 28% sell off.
February 2026 will be the bottom at around 21,500 where upon a massive short squeeze will ensue completely erasing that sell off like nothing happened. A 74% rally in one fell swoop, with the ultimate target back up to 44,500 for 110% rally.
Volatility will pick back up.
First will likely sell off to the 200sma Daily, bounce into the trendline and roll over. Once in the green box it will rally back up into supply marked with the other trendline in August.
I believe end of August will just create a massive dump slicing through that wedge bottom and dropping 20% in three months.
By November we will get a small rally back up into resistance marked by the red rectangle, or the bottom of that October rally. Into the declining 200sma Daily. Prime selling area for another
20% drop. This drop will happen after the new year in 2025. December will end about 31,500 as the close of the year.
Finally, October 2025 will be the capitulation dump down into the support zone for another 28% sell off.
February 2026 will be the bottom at around 21,500 where upon a massive short squeeze will ensue completely erasing that sell off like nothing happened. A 74% rally in one fell swoop, with the ultimate target back up to 44,500 for 110% rally.