I’m having a hard time believing what I’m seeing at this point..this is just straight parabolic down after an 80% breakout…I guess this is the 20% of the time that fails…W2 support has clearly failed and the only support is 2018-2020 where this entire previous rally started…we bottomed in an A wave at 2019, rallied in a B wave and due to the ferocious and scary nature of this move, looks like a VERY FAST C wave in an ABC flat at BEST.

I’m not THAT worried but W2 support is broken…I have to swallow at least the C wave to test 2019 move now, and if there’s any silver lining it’s just an ABC flat with a broken B wave that’s retracing back to the start of the impulse that we’ve seen in November.

We’re getting a move like this at the very start of the month of December, but I’d only freakout if 2019 is broken by next week. The chart isn’t broken long term, but short term this is a “slobber knocker” of a C wave that was completely unexpected..I rarely see flats, mostly zigzags.