Tuesday August 23 2022
The large Wave 2 topped August 16. We showed ARKK and Apple topping in that same time frame.
It is important to understand that the larger Wave 3 is now underway. A smaller wave 1 of that third is unfolding The label shows it has completed three of the five. Markets are even this morning so a modest wave four is forming. A final small five should take us into next week.
that should be followed by an A B C wave 2 up into September. Then a more powerful third wave down should begin.
Granted that is a detailed projection but the wave pattern is strong when mood is strong and that is where we are.
The end of the wave 2 up is the time to add shorts.
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