I tend to agree with Karl Denninger here in that we are at war with Russia. It will escalate.
The waves are progressing nicely.
Now that prices have closed to a new market low, the blue downside line makes a nice target for Minor 1 or (3) down some several thousands of points lower.
The alternate count is that we are nearing the end of Minor 1 of (3) down. We’ll know soon enough I imagine of the market’s intentions. We have now a lower low than wave (1) which was a requirement for 1 of (3) down. There is nothing technical-wise or sentiment-wise to suggest that this count is correct. Hence an alternate count.
