Monday Show Note

For those that want to know what I’m watching, the following chart shows in easy to read detail, here’s what the numbers mean…

If level “1” is breached, I’m looking for a continuation down to “2” in relatively short order. If it doesn’t hold, I’m looking for a continuation down to “3” where some momentum may be negated and a bounce or something other like my “screaming sideways” analogy fits. If “3” is breached with any momentum, the label “Look out below” is what I see developing to the “2021 Break even” line. To wit:

(Chart Source)

As always, we shall see. However, based on my prior observations which “A bit too technical” pointed out. This is precisely what would be the “text book” follow-through of it according to such text books, which was why I pointed them out in the first place.

© 2022 Mark St.Cyr

Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.