Aug 29 2022
The INDU bounced off its 200 bar 2 hjour MA. We have had a big sell off which is what happens in third waves.
The downside potential is high. I am studying but it looks like there is much greater downside potential. I am out tomorrow and will return in the afternoon. No doubt an oversold low lies ahead but that may be lower than one thinks. The bear market is digging in its heels.
Investors who did not live thru the 1973-74 collapse, and that is 95% of today's investors, have no idea of just hos extensive the losses can be or how long the collapse can last. 1968-1982 went nowhere, we have only had brief intermissions in this bull market, 1987, 2001-02, 2007-2009, 2014 a couple of years and then no probem. that was not the case for 1968-01982, over ten years whe this all went no where.
The Democrats want to indict a former President
China wants to own the ocean near its borders
say what you want but Putin is bringing EU to its climate knees, they abandoned their coal and nuclear plants, now what
CDE
I think we are OK here, a higher low on the wave two down,silver recovered from its lower prices today.
Hecla and Freeport FCX display the same patterns, the point of a wave two down is to make the crowd abandon ship when they should be jumping aboard.
My friends at EWI think this is not a five wave, but a corrective A B C wave, we shall see.
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