Current actual is below. The selling should accelerate once wave 3 down is confirmed by a fall through $111.75. The market is worked over the smaller names first, those that do not drive too much public opinion. Go look at the chart of the value line 400 to see how it is still in the dumps. Now it is coming after the bigger names with WalMart and other visible stores falling huge percentage points. Yet still the outward view of the herd is that there is no panic. But there is panic folks, they are just trying to put on a brave face so they can get out before you do. I know there is panic because my indicators are ticking off in order:
- 500 point down day on the DJIA
- IBB and JWN fall out of bed
- UVXY skyrocketed from 25 to 90+ and then came all the way back down but cannot seem to create a new low.
Note: the holidays are generally rally months with everyone expecting Santa rally, etc. Maybe they will get it too. But my model suggests that the next week or more is going to point downward for mickey D and it will not surprise me at all if red 5 is the absolute peak of the McDonald rally before it begins to plummet big time just like Wally world, Macy's, etc.
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