Ok gang, this morning we see the futures up nicely as they pushed through that falling light green trendline (finally... only took 9 attempts!). I did a chart after the close yesterday in the chatroom and will post it again here with this mornings update. I believe we are a couple of days away from a very large drop. It's setting up for Lucy3 again and could trigger on Tuesday of next week at the close.
If you refer the chart from yesterday you'll see I believe we are in small C wave up (from the 2888 low on 10/8), inside a medium wave 2 up (from the 2855 low on 10/3), inside a large C wave down (from the 3025 high on 9/13 or 3024 on 9/19?). The large A down was the drop from the 3029 high on 7/29 to the 2775 low on 8/5... which is 169 points in total. I expect this C down to be at least that much again, but usually C waves are like 1.618% of the A wave, so a move back down near the June 3rd low is possible.
For the short term though I think we are in a "tiny wave 3" up today of "small wave C up". That leaves Monday and Tuesday to carve out the "tiny wave 4" down and "tiny wave 5" up. That should complete the "small wave 2" up, which ends "medium wave 2" up and then (drum roll please) "medium wave 3" down inside "large wave C" down beginning! It's the wave we've all be looking for... a bull killer!
I'm not into EW really for predicting the future but I do use it with other technical stuff and that's why I'm referencing it today. There more factors involved here then just wave counting but they all match up nicely, so this time around Lucy3 has a great chance of happening. If you don't know what I'm talking about you'll have to join the free chatroom and go read a page I labeled "Codes" and then you'll "get it". Put simply though... it's a BIG DROP! So get ready bears, your time is near.
Have a wonderful and super blessed weekend. Remember that God is in full control of this world and he loves you. I know he loves me as ever since I've been talking (praying) to him daily he's answered my prayers. Totally amazing, as all you have to do is ask for help and he's there. God Bless.
