The fifth step down started at the top yesterday and will make a new low below the lows established late August. Not all stocks will go down to new lows but most indices will make new lows and decline will be pretty fast. After the 5th step down has been completed, we will have a bigger rally.
5.1 % unemployment rate is not real. The actual unemployment rate is above 10% . Oil is going lower and so will natural gas. Gold and silver have been going down in step 2 and 3rd step up is starting today.
China devalued their currency on August 11 but they are not through yet. They will devalue more to new lows and rest of Asia will devalue their currencies as well. Dollar is becoming stronger in 5th leg up and will continue to go up till it makes a new high. That is not good for US stocks.
We cannot rule out that the 4th leg up is not yet complete but it will do so soon.
UVXY started going up after making a low yesterday.
5.1 % unemployment rate is not real. The actual unemployment rate is above 10% . Oil is going lower and so will natural gas. Gold and silver have been going down in step 2 and 3rd step up is starting today.
China devalued their currency on August 11 but they are not through yet. They will devalue more to new lows and rest of Asia will devalue their currencies as well. Dollar is becoming stronger in 5th leg up and will continue to go up till it makes a new high. That is not good for US stocks.
We cannot rule out that the 4th leg up is not yet complete but it will do so soon.
UVXY started going up after making a low yesterday.
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