Well, I think the fourth wave is over and that we are in the fifth wave. It is unbelievable how complex the fourth wave can be. I thought it was over in August. It continued to zigzag until recently. I now think the fourth wave is over. However if you look at any of the daily charts, you will see that MACD has not yet confirmed that the market is in a downtrend. The shorter term charts do confirm that we are in a downtrend. So who do we believe? I am not a short term trader and wait for the daily, weekly, and monthly charts to confirm. When the daily confirms a new downtrend, I will get involved. Until that happens, I remain mostly in cash and short term bills.
Success to your trading.
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