Intraday reversal [DJIA] = sell the rallies.

Per the model from the backlink which is reproduced below, the e wave of red 4 was expected to peter out and then break back down into the channel.



Intraday reversals are not common so when you see them you should pay attention, especially when they happen to fit the prevailing EW model.  Since the reversal today, I count 5 down.  So the expectation will be that we move back up at the open tomorrow and then some news, whatever it might be, is taken as a reason to freak out by the markets, thus eliminating at least 1000 DJIA points over the next trading week, and perhaps much faster.

If this goes below red 3, even by 1 penny, and it does so in 5 waves, then the bear market is confirmed as green 1 is formed.  At that point we wait out the likely 3 wave bounce to the level of red 4 as shown by green 2 and then lay into the shorts big time because the next wave down will be green 3 and the model expects it to be a dramatic collapse, probably into the DJIA 12k range.  No longs are suspecting this is even possible right now, much less thinking it is probable.

EWer's know that there are no certainties, only odds.  But if this follow the model up into green 2 as show, the odds become very high that green 3 or C will then transpire.  When gambling in the world's biggest casino, what else can you ask for but better odds?