Yesterday we saw a lot of ups and downs several times through out the day, which tricked me out of my tiny short position unfortunately. Now this morning we are having the down move I was looking for and I missed it... SkyNet sucks. LOL. But all is not lost as there should be a move back up today too. This move down is just in the early stages of forming and will still have some swings in it before a big drop happens.
Meaning there should be another move up to short again. So I'll patiently watch and wait. I don't really have much more to add this morning. I'll have to see what happens through out the day and post updates in the chatroom. Overall though I don't see today as "the day" that it falls off a cliff. There should be more days of swings up and down as dip buyers continue to step in... until they get crushed.
On the short term though a rally back up today that makes a lower high then yesterday would (should) qualify as a wave 2 (or B) bounce and another move down should follow (a 3 wave or C). Still though that move might end fast and have dip buyers push it back up into early next week, where another opportunity for a short should setup... and it should be a bigger one, like the one I'm looking for. Have a great day and may God bless you.