(THIS POST IS THE FALSE BREAKDOWN / FLUSH-OUT OF THE MARKET, we are now in an Uptrend Cycle and our Bear Market Play of the quarter continues)
The only way for our market to go up in the next few weeks is to climb up and bounce the 10650-10700 lows, and just now, 30mins after the start of the trading, looks like our Bear Market play of the Quarter became hazy.
At any scenario, Elliot Wave chart experts suggest a good rally before this selloff happens, But the tide is too strong, and no walls can give it a pause.
Now, looks like it broke down an important 10700 support, and enters BEAR Market territory, target projection is 9750-10000 as shown is the chart.
After it hits 9750-10000, a 1-2month rally can be seen (right shoulder), but may form the scary "Bear market head and shoulder pattern" which is larger than the usual, if it happens.... A double dip recession is standing by the side with a target downside of 6000, the year 2009 low. Hope it does not happen.
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