Request - Pins Update - Bear Count
I was asked for a PINS update. Unfortunately I am a bear here.
30 week MA curling to the downside. Relative weakness here as well accompanying the trendline break. Looks like a cycle 1 top is in. We appear to be in a 7 swing WXY correction with 100 extension confluence w/ the 61.8% retracement somewhere around 40-45 a share. I still think pins could see upside to the 66-70 range before the flush taking it to wave 2 bottom, but time will tell. As of now I think the green arrows show us the most likely course at this point. (be mindful I could be completely wrong and maybe we are setting wave 2 bottom now)
Dont place trades directly off my analysis, always do your own DD!
30 week MA curling to the downside. Relative weakness here as well accompanying the trendline break. Looks like a cycle 1 top is in. We appear to be in a 7 swing WXY correction with 100 extension confluence w/ the 61.8% retracement somewhere around 40-45 a share. I still think pins could see upside to the 66-70 range before the flush taking it to wave 2 bottom, but time will tell. As of now I think the green arrows show us the most likely course at this point. (be mindful I could be completely wrong and maybe we are setting wave 2 bottom now)
Dont place trades directly off my analysis, always do your own DD!
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