Zooming in on just the red circle with the current snapshot heading into today's close, this is my current model. In other words, I'm looking for, but don't have to get, one more small wave down into the close in order to finish green C. Tomorrow I expect a rally at the open which, if it occurs and is limited by the upper rail as shown will be a sell signal and count as green D. Then perhaps throughout the day we see green E which is also red B. Then we get a strong rally into the next week but with high likelihood of a rec C peak as shown followed by another selloff below $7. This extreme volatility will be very fun for traders who can keep up with the whipsaw.
Of course, these are only models, use stops, don't shoot for the moon based on views of a stranger blah blah blah.
Did I mention to use stops?
Yes I think I did.
So that means, folks, don't use hope as a plan. This can break down to $4 or even $2 before the final bottom is in. Trade the waves and USE STOPS. Be a pro, not a schmoo!
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