The SMI forecaster is still pinned to the top of the sub chart whilst the actual 4hr SMI has almost descended to the bottom, as it predicted. With no let up on the forecaster, I have to assume that the 30 min SMI will roll up and down as price impulses and corrects (perhaps within a diagonal), leaving the 240min SMI pinned to the bottom - it utilises adaptive averages so will not move off the bottom for corrections. D2 is close enough now to believe it will happen, but with D4 looking flat at the D2/D4 conjunction, I can only hope that price makes it under D4, and retraces back up to D2 from the underside in a very flat correction. That would bring D3 into play with both D2 & D4 already 'cut' and leave the bulls from D9 with a few problems. See the 'bottoming' legend for D4 on the right of screen and back at that forecaster......I am bivouacking in here for some more downhill. I think the market will catch up with itself in due course. Price action does look choppy though since the top, so have to keep in mind that this could all be corrective rather than the beginnings of something more powerful downhill. But the intra-week My-Wave here looks like it is at Custer's Last Stand with prices teasing the bottom. Take out yesterday's low and then maybe we may see this market's true colours.
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