Oct 7, 2014
The triangle was a hint that there is more to the downside.... I am not sure what is going on. I have just drawn trend lines and it looks like an expanding formation. The two options which I can see are - wave 1 LD if we see a new low or wave c up if we see a reversal tomorrow. First - too much weakness and I am skeptical about a new high now. Second - I do not think that we will see a waterfall, I still think the move lower is near to it's end.