Current model is below. I do not know at this point if it will begin selling off now (thus confirming the alternate B wave blue model) OR if it will power 1 small wave higher for the primary model (red). If it turns down from here and then breaks back down into the HT then downside will likely be limited to $30 ish. However, if this follows the red path then the HT model is broken, thus it is not B but 2. In that case, odds lean strongly toward a Prechter/Dent style deflationary collapse. It is often the case that short term bad news can defuse longer term bad news by letting off steam and this is the decision point we are at right now: let markets correct hard now or let them collapse completely later. Of course interest rates will be key to all of this.
Your move, Janet.
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