While a 500 point down day would have been more convincing, Tuesday’s trade went according to the bears’ script and the expectations we outlined.  While those expectations continue to consider the possibility that more upside correction is possible before a turn back down, Tuesday tilted evidence in favor of the scenario where downside has resumed in wave [3] of 3 of (1) of [3].   Read about it in  The Deviant Standard for June 22 (PDF)

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