The pattern into Friday is anything but clear, so I'll give my "best guess," but I can't have high confidence in this at the moment: My best guess is that we'll rally a little on Monday, but that the overall decline isn't complete. A sustained break of the lower red trend line could spark a larger sell-off.
In conclusion, the decline since the all-time high hasn't been terribly clear. It's either a very complex corrective wave, or it's the warm up to a more significant decline, but presently there's no way to sort those two options. As I said, my best guess is that lower prices are still needed, but my confidence is limited. For now, we'll continue under the assumption that Red B is complete, but we'll do so cautiously. Trade safe.
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