For the same of completeness, here is how the cyclic picture looks like now. 80 week low is ahead of us sometime. I think maybe b/w now and first few days of Jan. This is my best guess for now. I am however not trading it positionally. Just hit and run.
When we have bigger bearish cycles like this one, its normal for them to extend and that is what is happening right now. Thats why trading rules are needed - to keep us out of trouble. Run your trading like a business instead of blaming your tools and everybody else except yourself :)
Ok. Thats it from me for a while..Holidays, Christmas, New year all coming up..Gonna take it easy for a while.
Have a great Christmas and New Year..Everybody.