Folks, you need to wait. I warned of the bearish engulfing candle 2 days ago whilst many were cheerleading. A reversal has been confirmed and there’s an abyssal gap waiting to be filled.

1) A dark cloud pattern is forming over the weekly candle, and this pattern is known to repulsively complete itself.

2) Fibb charts show we’ve broken through our first pivot support. The second pivot support awaits at 285 and if broken through, will test the 3rd pivot around 230.

3) RSI 6 has shown an aggressive break below RSI 12 & 24. This is a signal most traders will use to enter short. Don’t go against the wind.

4) The last 4 days have an estimated net money outflow of 500M/2B/600M/1.2B, amounting to 4B +. Comparing it to the colossal 300B market cap added in the past week, the sell-off is far from done.

This is a time to be sober, not loyal.