This 24-second video pretty well sums up the situation with my bearish position...
So, I believe my shot is hitting the right mark ... but the damn thing has legs holding everything up. Yet by an increasing look of fatigue and by gravity ... I still believe the market will give and hit the floor.
A counter-trend rally following last week's initial, 5-wave decline (5.20 - 5.21) continued today. Similarity to last Wednesday's (5.20) counter-trend rally persists.
Any moment now the market's legs look to give out. A growing number of technical indications continue suggesting gravity likely will have its way. By the simple manner decidedly weakening technical conditions are persisting a large thud just as well could come sooner rather than later.
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© The Risk Averse Alert — Advocating a patient, disciplined approach to stock market investing. Overriding objective is limiting financial risk. Minimizing investment capital loss is a priority.
Analysis centers on the stock market's path of least resistance. Long-term, this drives a simple strategy for safely investing a 401(k) for maximum profit. Intermediate-term, investing with stock index tracking-ETFs (both their long and short varieties) is advanced. Short-term, stock index options occasionally offer extraordinary profit opportunities when the stock market is moving along its projected path.
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