A LITTLE TESTER

As I suspected there would be a bounce at the open with an attempt at a new wave 2 recovery high. There is a lot of nervousness at these levels, even staunch EW bears are expecting one more high.
I have a feeling a new high ain't coming and the sellers (shorts) and (profit takers) may get a nasty surprise if a new high doesn't come and the selling becomes a little more than anticipated leading to aggressive selling and a mild dose of panic.

It is still early days Europe is currently up as are the US futures, but I think those that hold their ground through the little tester will be handsomely rewarded.

We shall soon see, I haven't read John Hussman's piece yet save for the headline that the market is the most overbought it has been in 9.5 years. I am practising gamblers fallacy that a correction is coming. No amount of statistical manipulation will convince me that a movement this far from the mean wont revert. True I cannot say when exactly but I can certainly shift the odds from 50:50