MP Spoos May 18
was just re-reading my chart from May 8th. very prophetic. !
Now what. Statistically we should get another dead cat bounce to re set shorts, especially as the 1260 tgt was effectively achieved but my comments on todays chart relate to the much bigger picture
Make no mistake the real selling has not even begun for what we have witnessed so far is hedging. If Friday we do not go down any further and I am wrong about a close on the lows then Monday/Tuesday become the new IB to watch for clues
Now what. Statistically we should get another dead cat bounce to re set shorts, especially as the 1260 tgt was effectively achieved but my comments on todays chart relate to the much bigger picture
Make no mistake the real selling has not even begun for what we have witnessed so far is hedging. If Friday we do not go down any further and I am wrong about a close on the lows then Monday/Tuesday become the new IB to watch for clues
Click image for original size
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