Lesson Learned

I was thinking we were going to get a pop long last night before the short resumed. No dice. The lesson is that in a fast moving bear market one should not look too hard for text book or "normal" retracements. The C wave of ii was truncated and then wave iii began. If you have been following this blog you know that I have been calling the major trend short since the begining. The short trend has quite a way to go yet. I won't try and call retracement points. I am simply going to let you know when I think they are over. When I think the dominate short trend is over, only then will I discuss it. A 300 min chart is attched for some perspective. The trend remains short.