So, is this just another spike that will refresh the bull or is it the start of the real thing?
Here’s the weekly view. It does not look like the end of the world, does it?
I don’t want to be flippant in the face of the market because a) it has already ripped me a new one this week (to the extent I am in, which was not much of an extent) and b) I am the guy with the potential Q4 top projection hanging out there, after all.
I am leaning against my projection and think this is a routine and healthy market pullback (parameters noted in an update). But the market will actually decide that. I think I have some pretty good short and long-term tools that will keep us right after this shakes out.
Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.