In the last update, I gave my (very slight) lean for another wave down, and this morning's premarket action seems to be providing that.
I'm not updating the COMPQ chart because it's in that mode where it deletes everything if I touch it -- but it's uncanny how well the blue path has played out, considering the trip down bottomed where it was drawn, ran back up, and now seems to have potentially topped right where drawn:
If INDU follows suit, it may break that blue trendline, but bears should be careful if it whipsaws there:
In conclusion, this is the moment for bears to either make things happen or go back to hibernation. If this morning's gap down gets bought right back up, then bears may not get another chance for at least a few weeks. If it does not get bought... then the targets from Jan. 27 will remain alive. Trade safe.
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