Short

At risk of 20% decline

Updated

A break below 1800 can trigger a selloff to 1400s by end of August.

Signs of distribution since the 2023 high. Last selloff to 1600 was a sign of strength, this will be the real deal - likely start of C wave down to new lows.

Note

Rejection at the 1834 sets up nicely for a breakdown here to kick this off. Could get bloody.

Note

Initial target is 1726. Then 1400s. I should note that the move down to 1400s will be the first subwave of a larger C wave that will take this to 570-880 by end of 2023.

This first leg down will confirm the B-wave has completed.

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I wasn't lying. This is the beginning of the end.

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1426 initial target looking very likely in the coming days.

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Next leg down will begin this week

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Next target range is 1380-1520 by 9/19/2023

If that hits the selling pressure can take it to my next target range of 1170-1350 by 9/29/2023

Its setting up to take another dive this week.

JerryManders

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