Hi All,
This swing low in CAD and swing high in Crude that occured yesterday and today mean that wave 4 of the decline in Crude is in place. Wave 4 is very often a powerful counter-trend move which gives a false impression that the trend has reversed. Once the crowd positions inself for trend reversal, the trend will resume in w5.
So, awaiting wave 5 decline in Crude and the corresponding decline in SPX over the course of the next two weeks. Note that the decline in Crude can be quite a big one - SPX is by far not done falling, so something spectacular still needs to happen. Prepare for the unexpected.
This swing low in CAD and swing high in Crude that occured yesterday and today mean that wave 4 of the decline in Crude is in place. Wave 4 is very often a powerful counter-trend move which gives a false impression that the trend has reversed. Once the crowd positions inself for trend reversal, the trend will resume in w5.
So, awaiting wave 5 decline in Crude and the corresponding decline in SPX over the course of the next two weeks. Note that the decline in Crude can be quite a big one - SPX is by far not done falling, so something spectacular still needs to happen. Prepare for the unexpected.