by Avi Gilburt
After reading the title, you may expect me to say something like “let my metals go.” And, you are likely quite right. So rather than afflicting you with the plague of darkness, allow me to illuminate how I view the market as it currently resides.
How Do Corrections Develop and Why May This One Be Different?
Those that have experience trading the market have figured out that there are usually 3 movements within a corrective decline phase. The first drops the market from the high, the second provides a counter-trend bounce, which fools most into believing that the primary trend has returned, and the 3rd dashes those hopes, and brings back the fears of the prior bear market, as the market moves down to lower levels, but makes a higher low before continuing in its trend higher.