2 failed breakouts. 1st failed breakout led to a 55% drawdown and I think this 2nd failed breakout will also lead to another big drawdown. Most investors are super bullish and they are all expecting a big Q4 rally with some lofty price targets. More than likely this will not happen. Nov was a negative month and Dec is also turning out to be a negative month. November was a big miss for S2F model and I think December will also be another big miss. We will need a big flush in the market for prices to resume higher.
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