merry crashmas, page-8

Although the higher lows and higher highs pattern of markets other than here plus the EW pattern that suggests a surge could happen here, McLaren contends that rather than ABC zigzag rallies, the evidence is that 3 tops will normally occur in a bear market rally.

Those tops need not be each one higher but just 3 peaks.

If this is the case then the argument can be made that the work is done or even a bit more upside is acceptable.

Of course a huge surge higher would put a more conventional spin on things.