While the current chart (below) peaked right at the inflection point from the backlink and began heading down, I'm not convinced that it will go all the way below $1.80. I think more likely it will kiss the center line from above and then reverse upward, breaking out the top rail with gusto. The talking heads will have latched onto some reason for it, sure, but it will be bullshit. The herd moves up when the herd is good and ready to and the EW model suggests that we are very close to it.
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