This is from McHugh's newsletter:Stocks fell sharply Friday...

This is from McHugh's newsletter:

Stocks fell sharply Friday morning, the Industrials down 188 points at one point, hitting 11,875. This is getting close to being a decisive move below the 34 year long-term rising trend-channel's bottom boundary shown this week, so if prices sink this afternoon and close in the 11,700 area, that would argue a 34 year Bull market is over. That would suggest a multi-year Bear market was just getting started, believe it or not. If you missed Wednesday evening's newsletter, we cover this there. We noted in Thursday's market update that the 30 minute chart's full stochastic suggested Friday could see prices drop. Since the Hindenburg Omen potential stock market crash signal was confirmed on Monday, June 16th this week, the Industrials have fallen 394 points. Friday's decline looks impulsive, the speed dramatic, so we could be hitting the sweet spot of a bunch of wave threes down we have been showing in our charts this week. Today is options expiration day, so anything can happen this afternoon. A corrective bounce started late this morning. There is a gap up to 12,000, so maybe a correction will take us that high. The 30 minute chart's full stochastic is oversold already, supporting a corrective bounce. However, if this is a waterfall decline, oversold won't matter.