Monday Update: Cluster_Pending


Today marked a Fibonacci 8th trading day of a counter trend rally up from the December 24th lows. Each day of this rally is bringing the market closer to a reversal into the next leg down. Depending on where the last leg down is considered to have begun, this rally has retraced between a Fibonacci 38.2% and 61.8% level. In other words, unless this budding bear market is dead in its tracks, a reversal back down is very near.

The next cluster of Sells are getting closer every day. It is just over a month since the last cluster of sells during the first week of December. Those came a month after the initial bear market cluster of sell signals November 12th. See a pattern here? Check the trading table from Saturday's update and review the results from the November and December clusters and stand-by for the next round.