I agree completely. This market is going to drop and I think it's going to happen very soon. It has to. Check this out for a little more confluence. Have a look at the measured moves labeled by the green lines. The lines are exactly the same. The top of the middle line is only about $2500 higher than that swing high. Lets also take into consideration how fast the third and current move has happened. It's only been 5 months from low to current high as we write this post and that includes the down month of August. Measured move 1 was 13 months and measured move 2 was 16 months from swing low to swing high.
I agree completely. This market is going to drop and I think it's going to happen very soon. It has to. Check this out for a little more confluence. Have a look at the measured moves labeled by the green lines. The lines are exactly the same. The top of the middle line is only about $2500 higher than that swing high. Lets also take into consideration how fast the third and current move has happened. It's only been 5 months from low to current high as we write this post and that includes the down month of August. Measured move 1 was 13 months and measured move 2 was 16 months from swing low to swing high.
Here is…