Fireworks coming?

The trend for the indexes continues to be "down" or bearish. The market is well oversold, that is, it has been down for several days and we can expect a reversal of the trend. However, the market may get more bearish before it reverses. One strategy is to cover your short position and take profits when this final wave down is almost complete. Then, either hold cash and hope to short the market again at higher prices. Another strategy is to cover the short position and immediately buy (go long) an index that will retrace the previous downturn. Hold the long position until it hits a fibonacci retracement number: 0318, 050, or 0618.This should be a three wave rally: A, B, C. Take profit and short again for another five wave decline. At any rate the market is following the Elliot Wave script.
ps. an article on Robert Prector, the author of the Elliot Wave Theory is in today's Sunday Business issue of the New York Times. It's a concise summary of his history on the market. He has made mistakes. No one is perfect. No one can always predict the correct direction of the market. But EWT does work for me most of the time. Always check the charts and label the waves. Remember there is always an alternative way to interpret the market. It's fed by humans after all! Fear and Greed!