PLS chart, page-118

Basically currently we are on the wrong side of the trend. A recovery from the high teens from where the explosive rally started 3 years ago isn't what I deem a bull trend. As price currently recover there will be a few with Rameriz dilemma taking the chance for breakeven exit.

In other words all the stale bulls has to be eradicated before you see another euphoric move up. This is the typical recovery mechanics post burst.

The investor using FA will be a believer in Feds money print that will also print company revenues + jobs. There is some truth here as Feds move from money markets to junk bonds, equities of its various forms etc. The contrarian camp thinks equity has digressed from real economics and sooner or later Feds money pump will create Zombie companies that are addicted to cheap debt just to get by. Its like how long will the economic fall here once you take away all those keepers and it's various programs. Keep having continuous phases of infection until we get a vaccine that works and tested with little side effects or the 1st off the rank even if the side effects is worse than death?

The wall St is promoting V recovery and we see some reflections in the equity market. Do you reckon the global economies can stand on their 2 feet unaided? If you think so then we have a confirmed bottom in equitues, if not you wait sidelines or nibble at risk. I don't know where the markets are heading too as I was initially wrong on this massive recovery. I expect every scenario can happen.

I posted the technicals for the past few weeks and so have others, different tooks but result directional bias matches. If we wake up tomor row and DOW drops 1000+ POINTS then you know the recovery will be on ice until another occasion whenever that will be. Good luck.