Allan posted his Crash Warning on September 10, is he finally turning bullish? Maybe, or kind of. However, this is the most bullish he’s been since the market’s been in severe decline this summer, and he’s taken part of his short position off the table.
Are we there yet?
Today (Nov. 20) was quite the drama in the markets.
The major averages fell through the 2002 lows like a bowling ball off the top ledge of the Sears tower in Chicago in a freezing rain storm on a raw, cold, November afternoon as the Chicago Bears were shut out by the Green Bay Packers 10-0.
Yea, it was one of those days.
Is the bottom in?
Maybe.
What? Do you think I just make this stuff up?
This is the first time since I published Crash Warning in early September that I thought that a bottom of any sorts was possible.
The market will let us know more tomorrow (Friday, November 21) and Monday.
For now, let’s just say anything is possible………..including a tradable rally.
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Chart with Elliott Waves labeled. Question is, is the 5th wave down over?
