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Progress of the Bear

  1. redabyss

    1,383 Posts.

    The US market is heading down in a fairly orderly and measurable way, even though it is in the steep part of the decline.

    As far as I can tell without proper US data, the US indices are in wave iv of wave 3 of Wave 5 from the descent starting early March. That means it needs to finish up wave 3 (up to another 100 points on S&P), take a bit of a breather (a week or so) and then move into wave 5, which could be pretty mean. 740 is a reasonable fibonacci S&P target for this wave 3, before the market heads down towards the final target of 570.

    Blood on the tracks.

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