Yep a bear trap - Elliot Wave is 3-5 wave retractions up and 5-7 down along with a very negative head and shoulders....At least the chartist in me says we have a way to go....
I am all cash and sitting on my hands at this point waiting for a clear trend
I started going into precious metals at gold $400 and silver $5, and I think they'll go over 1,000 and $20 in a few months.
Bob Prechter fan?