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Refreshing to see you going short -- I know you just did it when you saw its time to go short -- but to me your long view was worrying me out of my short :)Thanks for the updated views..
Great trade, Carl. You nailed that one!
It needs to close at 1106 or above today to continue to stay as uptrend.
Right on Carl. A sign of a good trader is to recognize a trend change. We just completed another classical mini 5 wave down and are in the process of an ABC retracement up to your mid-point line. The only difference I see is there is I believe we are in the midst of a larger A-E triangle formation. If I draw a line from 11/19 and 11/27 bottoms, I think the E wave bottom will be in the ~1077 on the eminis. . A break below that takes us back to 1040 or so. As much as I want to be a bull, this meddling around these levels in excess of 2 months sure feels like a topping process. When I add declining volume and fewer and fewer stocks participating to the upside, I sense something 'evil' is lurking. However, before we fall big, I still sense we will have one more attempt at the highs, but don't believe we will acheive it. I guess that's what make it fun to hear your and other perspectives. For now, all we can do is trade in the present. And the short-term says we are going down.
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