Loading ...Far too early to look for a bottom, the virus has caused this sell off and how can one say it has burnt out and sri the kind of action we saw before, was not a running B wave, it was climactic in a classic ending of an Impulse….Tesla jumping 14 or 18 % /day.
That climactic action doesn’t fit the waves, so I can see where they are coming from…anyway the C wave is not that large yet, much more likely is we see sub 2600 S&P, before we may have a temporary bottom….if u want a scary SM chart, check out the DJT monthly….in a C wave dn, but barely started !!!!!
Plus if the recent all time Hi was only a running B wave, then we will see 100 K on the Dow, as it was only the B of a 2nd wave we still have all of the 3rd and 5th up waves to come!!!!!
The nightmare scenario is this is the start of the 2nd down, correcting all of 2009 to 2021, that could in theory see sub 700 in S&P…..I saw some CNBC last night, the last few mins after the close and the blonde bimbo was still asking….. what they would buy here !!!!!!