And just like that, the very next session produces the first breakdown close below the channel. Unbelievable! is the greatest tool of investing, by far! This channel originated in February of 2016. To be able to pinpoint the time that it would break down, is an extremely valuable gift indeed.
Now that we've closed below the 200 (in purple) and the bottom of the , the path is clear for some major destruction to occur. As I said in my last post, I believe that we are in the process of creating a new (in pink.) With that said, the selling should continue, but may find support at the bottom of the pink channel. The general target area is around 240.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! I'm outta here!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-Magic loves you-
play the dead cat bounce, this is likely a bottom (short term? or maybe long term?). you'll find a much better place to sell in a couple days.