I revised my chart to show a target band, the previous target was the minimum drop, and the market is almost there.
I draw bear flags from the top of the drop, but a pennant target should actually be drawn from where it breaks the pennant. That is the lower target line.
Plus with the garbage stock pump this morning, RTY hasn't hit my target yet. I assume we get a bounce sometime next week, but there's a chance the market fills that open gap below before January in my bear scenario.
Any trades I make will be short term trades, I am not that bullish. There is no way the Euro markets hit the ATH again during a recession, so I do not expect a new ATH (all time high).
I draw bear flags from the top of the drop, but a pennant target should actually be drawn from where it breaks the pennant. That is the lower target line.
Plus with the garbage stock pump this morning, RTY hasn't hit my target yet. I assume we get a bounce sometime next week, but there's a chance the market fills that open gap below before January in my bear scenario.
Any trades I make will be short term trades, I am not that bullish. There is no way the Euro markets hit the ATH again during a recession, so I do not expect a new ATH (all time high).