Stock Market CRASH Now in Progress: The Biggest Stock Market Bubble in History in Now Unwinding

[00:00:00] Speaker 1: Okay, we had the market close mixed, and the Dow was up, the NASDAQ was down, and the S&P was flat. So that's where we stand. The Dow was up 235 points, up 0.46%, closed just under 52,000. We had that peak, and we've turned off of it there at the 53,000 area. The S&P was flat. It was up 0.05%, I'm sorry, 0.05%, up 3.68%. The NASDAQ 100, and let's just compare right here. NASDAQ Composite down 0.64%. NASDAQ 100 was down, all the Wall Street darlings there, down 1.15%, down 326 points. The Russell was down 0.30%. Now, we've had the market sell-off on recent highs on the things that I'm warning you about. I warned you that we get a tech sell-off with semiconductors and AI, and that the AI bubble is bursting. And again, there's going to be concerns this earnings season about spending, the enormous amount of spending, not yet being able to turn into profits. We saw that sell-off with Alphabet. We saw Alphabet with the earnings. We saw a sell-off due to surging AI capital expenditures, creating a negative free cash flow. That means that the company spent more than it brought in. That's what that means. And investors are uneasy about that. Enormous amount of spending. And Wall Street's realizing now, and this is why we're seeing AI sell-off. Wall Street's realizing that building AI infrastructure is vastly more expensive than anybody thought. We're getting a real AI reality check as Wall Street's realizing that it's costing more than expected. It is more expensive than anybody thought it would be, and profits are lagging behind. And that is going to create this massive AI bubble bursting, which you've already seen in the beginning, early stages of this. The things I warned you about, the AI sell-off, and I think you're going to see more of it this earnings season. We'll be getting a lot of important earnings next week with more magnificent seven stocks. Let me just bring that up here for next week. We have the Fed next week, which I think you're going to have a hawkish tone out of the Fed. I don't think they're going to raise rates, but they could prepare the market for a rate hike. The next move being a rate hike, and that could rattle markets. After the Fed, on Wednesday, after the bill, we'll get Microsoft, we'll get Meta. The next day, after the bill, on Thursday, we'll get Apple and Amazon. Other important, I told you, I think will really lead to rattling the market. And that is, again, I think you're seeing, already seeing it, we're seeing crude oil up 39% from the lowest 67% over the last three weeks. It's risen by, just over three weeks now, it's risen by 39%. It's pulling back. I'll show you the chart. The concerns about the war with Iran, concerns about the chip sell-off. Crude oil, crude oil down 2.27%. So, 2.25%, turning off of the trend line. We were down as low, more than 5% at the lows, but rebounded. Possible sloppy hanging man here, but stalling at this trend line. Now, previously, I showed you in yesterday's video that we were just above it. It was excluding the shadow, parallel boundary, including the shadow down here. If you exclude the shadow here, you include it up here, then, again, you're right at it right here. That's what I was doing, is I was connecting this peak here, excluding the shadow here, and connecting this peak over here. If you exclude, if you include the shadow, these two peaks, it's pointing to right where we're at, right at the cloud here. We've risen by 39.20%. So, we're starting to see a little bit of profit-taking. We're seeing a little hesitation at resistance. If oil pulls back with the stochastic rolling over here at extremes, if it pulls back a little bit, and I talked about either stowing at the 50 or stowing at the trend line cloud, it pulls back. We buy a little time. If it doesn't pull back, if we just plow on through this resistance, clearing the cloud, clearing the trend line, then you get a breakout, and maybe you get a pullback after that. But if things escalate here, I'm making a video here right after the market closes. If things escalate, Trump's been talking about this massive attack, if that happens this weekend, if that happens this weekend, it could just keep going higher. It could escalate it, let things calm down, escalate it again if they start doing this over the weekend, it's just really escalating things. A couple different ways they can do it, but again, talking about an attack bigger than Epic Fury. The U.S. could, again, take the oil hub, Karg Island, where 90, 95% of their oil passes through of the Iranian oil, or even parts of the coast with the southern part of Iran, near the Strait of Hormuz, create a buffer zone between Iran and the Strait. They could do something like that. Israel did that in Lebanon because Hezbollah, Iran's proxy, was firing rockets on the civilians in northern Israel. We could see something similar to that. The question is, do we buy a little bit more time, or does this escalate immediately, and we see this surge? We could pull back and then have a hawkish Fed eventually expressing concerns about inflation. It could be a combination of things. A hawkish Fed, concerns about inflation, rising yields, rising crude oil, concerns about AI spending, and all the things that I've been talking about, we're now seeing that begin to happen. The question now is, does this just keep going, and we get an immediate breakout here and just see a surge, things escalate, or do we get a pause briefly here? So we'll see how it unfolds with crude oil, but eventually, you're going to break out of this large bull flag. You're going to go to a new high. Again, I called a bottom for crude oil in early July. They're at the bottom with the gap fill, and I told you if I'm wrong about that, we go back to this trend line, and we form a diversion on some indicators. But I told you I thought we'd get above the 200, and then pull back and go higher. We did. But we might pull back right here with the breakout of the pink line. Didn't get much of a pullback. I told you if we didn't, be watching the 200, be watching the upper boundary of the channel. And we blew past the 50-period moving average, the green line, and we're now at the upper end of the channel. So we'll see if we pull back here or not, or if we just try to plow on through. Now, as I'm making this video, or as you're watching it later today or on into the weekend, again, we could see things already escalate. I'm telling you, see this happen immediately, or we might buy a little bit more time on into next week or the following weekend. Next weekend, I should say. There is going to be escalation. It is coming. Please support the channel with the link directly below that allows me to be able to provide you this information. If you follow the link below, it'll take you to a secured site. You can donate any amount you want. If you can take a moment and help out, I'd appreciate that. Rather than having sponsors and selling you something, sending you to some website, I just ask that you do what you can to help out. If you like this information, if you like my charts and indicators, then please follow the link below. And please consider helping out at this time. If you can do that when you finish watching the video, I would really, really appreciate that. Thank you for your consideration for that. Next update, I'll be covering other things that I'm not covering in this video. I'll cover the weekly and the monthly charts and talk about the price patterns with the S&P and NASDAQ. In my next video, I'll be talking about the VIX and I'll be showing you the indicators, which are now all mostly turning bearish. Check back for that Sunday morning, 7 a.m. Eastern Time. And I will be talking about the VIX there. Again, what we're seeing with Alphabet, the same concerns we're seeing with all AI stocks, spending, spending, spending, concerns about spending, concerns about that not being able to be translated into profit in the near future. Spending is much more than they thought. The warning sign we have are the semiconductor ETFs. And the semiconductors over the last five weeks now have sold off sharply. Over the previous four weeks, we dropped here with the SOXX Philadelphia Semiconductor ETF, 24.30%. I told you we'd likely see a bounce. We did, but we closed below the 10-week moving average red line last week. And we went back and tested it and got rejection there and got this topping too. Again, it's a very problematic scenario. Seeing AI stocks begin to sell off, concerns about spending, concerns about profit. Seeing the semiconductor stocks sell off has been the driving force behind the market. AI, semiconductors, tech, warned you this was going to happen. So people dismiss that possibility. Now we've seen this 24% drop here. So likely going to resume, actually take us down towards the 50-week moving average. And again, we've seen these divergences play out in the weekly time frame. I've talked about this. And again, this is our weekly chart of SOXX. 1% for the week, but we've dropped 24%. So we closed just above this level, this previous last week's close by 1%. We were up much more during the week, but we gave it all back with the topping tail. Same thing for SMH. We were up 0.84% for the week. We had a topping tail. We were up much higher, but we gave it all back. We went back and back-tested these 10-week moving averages and got rejection there. And again, this is the SMH Semiconductor ETF. And I've been monitoring these ETFs very closely. Now here, we dropped 20.5%. On the Philadelphia SOXX, we dropped 24.2%. It had a bigger drop. Usually, it has more volatility. That ETF, the Philadelphia Semiconductor ETF. Back-testing here. We're getting topping tails with both. You're likely going to eventually take out the cloud here and move back towards these 50-week moving averages and see a dramatic drop. This is also a warning sign. People are disregarding it. Well, the semiconductors had a positive gain for the week after a sharp sell-off. We actually were down on the NASDAQ 100 for the week. Second week in a row, we were down 1.62%. This is now our second week closing below the 10-week moving average. And the cloud going into the future is now turning red here in the weekly timeframe. We've seen a divergence. And even though we did move higher here, making a lower high, it's still the RSI doesn't look at the shadow here. So you still had a divergence in the weekly timeframe. Now, we've taken out our 10-week. We're moving towards the 20-week moving average. And as I've said, if we take out the cloud, you take out the 20-week, you're going to be moving back to the 50-week. You're going to be moving back towards the March low, the March 30th low over here and get back all of these gains. Which, again, we're told there's no way that was going to happen. We're going to have this SpaceX IPO and the market was going to surge. And I told you the SpaceX IPO was a topping signal for the stock market. It was a topping signal for SpaceX, which has crashed. Everybody believed the SpaceX IPO was going to take the market higher and the market peaked before the SpaceX IPO. I told you that that was likely going to be the case that we would see SpaceX sell off and the market pop out and sell off. The market's gone sideways, but it's still topping out. Peaked before the SpaceX IPO in early June. On June 3rd for the NASDAQ, June 2nd on the S&P. We had the SpaceX IPO here right in mid-June. Went up for three days. Went up to $225,000 and we've crashed down to $110,000. We've crashed almost 51%. The crowd told us this wasn't going to happen. I told you that it was going to happen, just like it was the Coinbase IPO, all the hype surrounding that, just like the Facebook IPO, all the hype surrounding that. Both of them saw the IPOs and shortly thereafter, they crashed. The MACD and the price oscillator roll over. Last week, we had bearish reversal of conditions. Last week, rejection of the upper channel line. We tried to overthrow it. There was no confirmation or fall through it, overthrew it, and we got rejection there. And then we tested it again, and we got rejection there. And again, we're likely now moving down towards the March low. You're likely moving down towards this rising trend line, towards the 200, probably going to break the trend line, move towards the 200 eventually, and come back down to this level. Again, we're probably going to see dramatic plunge. Had the bursting of the tech bubble, the NASDAQ 100 dropped 40% in 10 weeks. You're probably going to see something similar to this. We now have the crash to kick off the bear market. Coin gets the next leg down right now. You can see my latest Bitcoin video at the end of this one. And we see stock market get the first leg down of the crash. It's possible that with the money coming out of the stock market with tech and with AI and with the semiconductors, eventually we see that spill over into Bitcoin and create a Bitcoin bottom the fourth quarter. Bitcoin could bottom before the stock market does. And the four-year cycle could finish pleading the bear market in the fourth quarter in October, give or take a month. Sell signals, like with the money flow, the divergences, and with that taking out of the 10-week moving average. So, again, if we continue to hold below the 10-week moving average, we can go lower. When we took it out over here, we dropped sharply. When you took it out over here, you had the sell-off of just under 13% there in early 2026. So, we could see a bigger sell-off now that we have, again, a close below the 10-week moving average and a fall-through with another close below the 10-week NASDAQ weekly chart. I've talked about, in the monthly timeframe, these divergences, like on the RSI, money flow and the rate of change. I've talked about all these divergences warning. We've even seen price oscillator form a massive divergence with the 2021 peak back over here. We're now seeing the stochastic in the monthly timeframe roll over in this month. Again, there's still a little bit more time left in the month, but, again, it's likely we're going to see these monthly signals begin to play out. We're seeing the momentum oscillator have a massive divergence, the short-term momentum, and the recent price action getting these divergences in the monthly timeframe. So, this is all going to play out. The MACD, you never know. There was a divergence, but look at how big, how high it is at an extreme. The price oscillator or momentum here do a much better job than the MACD in the monthly timeframe. But I think you're going to turn here, and for the month, for the month, we're down 7.09%. So, we're reversing. Because we've gone sideways, it's created so much complacency. People don't realize what's going on, and that is distribution. It's a topping process, a stage three top and a reversal. Now, the NASDAQ 100 was down over 1%, and it ended up trying to close here below this level. We're moving to a new low beyond the June 9th low now. So, maybe that's it. I told you we might try to fill those gaps, but we don't have to. The gap from Thursday, gaps, plural, referring to S&P and NASDAQ 100. But we're trying to break down here. So, again, maybe that's all she wrote. We'll see if we try to move back up or not ahead of the Fed. We've got a descending triangle here. CD's moved into the negative region. We've seen stochastic roll back over. RSI has moved back below 50. So, again, we're breaking down from the descending triangle. If we get a follow-through to this, again, that may be the funnel now in the coffin because we're now getting a lower high, lower low on the NASDAQ. Breaking to a new low. Descending triangle is a reversal pattern. As I said, this is what I think is going on. I think that you're in this 5-league pushed lower with the red count to get our wave 1 down here or just beyond it. That's going to be a 26% drop right now, looking down from the descending triangle. We could already be in crash wave 3, as I said. I think wave 2 is done. We're already in crash wave 3. I think S&P just started crash wave 3. This larger black count of a 5-league pushed lower that will likely take us eventually back to test the April low, maybe just above it or beyond it. You're going to witness a 40% drop going into the midterm elections. We saw that happen. Bursting of the tech bubble. Over 10 weeks. It happened quicker than I've marked here. You just see this drop over the coming months here in the summer and on into the fall, going into the midterm elections and to the end of the year. Currently, we've seen the midterm election sell-offs in 2022 and 2018. If you look at all the midterm elections since the 1950s, the average drawdown is about 19%. If you just look at it, sorry, I said that wrong, 17, 17.1% from 1950. And if you just look at the more recent data from 1970 onward, then the average drawdown from 1970 onward is about 19%. And the last two midterm cycles in 2022 and 2018 saw significant drawdowns of around 20% ahead of the midterm elections. I don't think it's unreasonable to believe we're going back to the March low and probably eventually much lower. I've marked a 40% move here going back down towards the April low. Rally was likely a blow off top. It's going to be followed by a sharp reversal to get back all of the gains. Now, on the 60 minutes chart, if we buy a little bit more time, oil pulls back, say that the Trump administration goes forward even. Things escalate, they calm down, they escalate further this weekend, or they just delay them. Still have to have time to move everything in place, and they're still sending refueling aircraft. We're into Israel and preparing for something much bigger. They're setting the table for something bigger. It's going to happen. If there is a delay, we still might try to fill the gap right here. Possible you're getting a bullish divergence on the 60-minute chart. Maybe you go a little bit lower, try to do it. But we are breaking below the June 9th low. So the question now is, do we just get a follow-through to that? Or do we try to bounce here, slightly breaching this level, and then rally back up to try to fill Thursday's gap? So I'll be watching that. We have these other gaps up here. Again, they're probably not going to be filled. I told you they may not get filled. We've had several of them here now that have not been filled. But we now have a lower high and a lower low with the NASDAQ. S&P is not there yet, but while the NASDAQ has a descending triangle pattern, and trying to break down for that, we'll see if we still try to go back and fill that gap or not. And if we do, the trend line here, right around the moving averages, is resistance below the 50-period moving average. Do we just continue to move into a free fall here? Or do we try to bounce and fill Thursday's gap or go back towards the moving averages? So we get a candle of indecision on the S&P 500. We have a double top here for the S&P, an Adam and Eve double top right here, this rounding second peak. And that's why we've gone sideways. We're forming this pattern. Micro strategy or strategy now formed the same pattern. Talked about this in my Bitcoin videos. Double tops sometimes make a higher high. Sometimes they don't. Here we made a lower high, a rounding second peak. Wave 2 is done, as I think it is. Again, we're likely in Wave 3. Still might try to fill the gap. We made an attempt to do it today and couldn't do it. We came up and we rallied up to the moving averages, the 20-period, just under the 20-period, after dropping below the 10, dropping back below the 10, getting rejection at the 10. The red line is the 10. We dropped below it here, went back and tested it, and they got rejection off of it. And then now we've dropped below the 20-period. We dropped below the 20-period here, after getting back above it over here. We dropped below the 20-period yesterday and now testing the 20-period and the cloud are there. So if that's it, if we're not going to go back and fill the gap, then we'll see if we join the NASDAQ in taking out the June 9th low. We took out the June 9th low at NASDAQ. We'll see if the S&P will do it. And if we do, again, I've marked here again the Wave 3, 4, and 5. We've got a more aggressive count here, a more aggressive Wave 3 on this chart close up. But I moved it to what I had on the longer-term chart. It makes more sense that we have a 5-league pushdown going into the March 30th low. So this is what I think is likely happening right here, whether we fill that gap. And we may not. We may just see the U.S. move forward with a massive attack on Iran and rattle markets and spike crude oil and clear the resistance. Or buy a little bit more time. We'll see what happens. Or the Fed could rattle markets, Turkish Fed. But again, I think you have a double top. As I told you back in June, I think we've peaked. But we've gone sideways. And that creates a huge amount of complacency. The rallies are being sold. The rallies are being sold. So the double top confirmation line is the June 9th low. And again, we've got to take out the support zone, which is this higher low in late June. And our June 9th low here, that is the support zone we have to take out S&P Daily here. Now, if I zoom out and flip over to the other chart here, you can see my red count is all one wave, the black count right here. And I've just used regular numbers to simplify the Elliott wave counts for this program are kind of goofy. But I think we could be in this crash wave three. I think we've likely already started it. And again, I think you'll have a five-week push lower into the June 30th low. Now, or I'm sorry, the March 30th low. A 19.5% drop takes you back to the February 2025 peak. A 20% drop takes you down to just under 6,100 at 6,097. So I think you're getting this drop into this level. If we just go down to the slow, as I've marked right here, you're dropping 17.56%. I think that we'll try to go down to the trend line, bounce, probably drop below the 200, bounce, try to go back towards it, and then break this level and then come down to one of these levels. We get a bigger bounce. If we break the trend line, we get a bigger bounce. You possibly have a head and shoulders pattern here. No guarantee that sets up, but that could be a wave, too. So I've marked it here. That makes sense. I think you have a five-league push down here. And eventually, again, you're going to get these waves of selling here on in the summer right now and then on into the November election, depending on how rapid prices drop. It could be much faster than what I've marked right here. And NASDAQ dropped 40% in 10 weeks. That's two and a half months back with the bursting of the tech bubble. Our bubble right now is bigger than that bubble. It's the most overvalued stock market in history based on the Buffett indicator. A very similar valuation based on the Shuler-PE ratio with the tech bubble. I think the S&P will drop 20% or over 30% because it's now NASDAQ 100 Jr. with all the tech exposure. Previously, the last two bear markets, we've seen a 20% crash to kick off the bear market. It could be something bigger here. This bubble is bigger than the tech bubble. And S&P now has huge exposure to tech. It could behave like NASDAQ 100 Jr. and get a bigger drop than 20% to kick off the bear market. He was down 0.61% for the week, down almost 46 points, closing back below the 10-week moving average last week and then closing again below it this week. Prior to that, we've had the close below the 10-week. We went up and we made a lower high, dropping back below it. So NASDAQ had a good push, a couple of pushes below it. Here, the S&P is just below it a bit. Maybe the S&P will join NASDAQ in coming down and taking out the June 9th low. If you do, again, you'll be getting a lower high, lower low. NASDAQ does have that, but now we need a confirmation and follow-through of that. We still may try to go back and fill those gaps. We'll see what happens. Escalation with the Iran War. Food oil trying to break above the bull flag if it just continues to go parabolic. Things can rattle markets. Break out with the 10-year yield. Happened this week, again, adjusting strength if we just continue to see the perfect storm begin to take the market down sharply. Again, we could have a hawkish Fed. We've got a boatload of earnings, and we've already seen Alphabet rattle the market on concerns about AI spending. That's what I've been warning you was going to happen. Capastic's breaking 80, and the MACD is rolling over. Bring up the MACD histogram. It's gone negative. That's the difference between the MACD line and the signal line. It's gone negative, so that means we're getting a bearish cross right there. This has gone negative. We're negative now, negative 1.55. Barely in negative territory, but it did go negative. So again, even if we bounce, trying to fill Thursday's gap, again, we could see a sell-off with earnings, the Fed, or escalation. We'll see what happens if we get it over the weekend, if we get escalation over the weekend or not. Again, going to be strikes, but Trump's talking about a massive attack that exceeds epic fury. We start seeing Iran attack more energy sites, more infrastructure, which they've already done. Again, we may just see crude oil continue to go parabolic. We'll see it's that resistance right now. So we're getting the price oscillator rolling over. We're getting the MACD rolling over. We've had that with NASDAQ. The S&P is now joining it. Again, I think you're coming down here to eventually break these trend lines. The one from the April 2025 low and the one going back to 2020, late 2022 there. And that's the 2022 channel I've talked about. We tried to get above it here. We got rejection. We couldn't get the confirmation to fall through. We got rejection. We turned back down. We tested it a couple times. And now you're turning down. Stochastic turning down here, just resting right at that 80 level. Divergences on things like the money flow momentum. Not only have we seen this channel from the 2022 low and rejection there, but we've also seen the rising wedge. And that's rising wedge from the 2020 low. I've talked about this and, again, connecting to that 2025 low. But the upper boundary here at 2021 and 2022 that marked the 2022 top, pointing up to the level where we just reached right here, we slightly overthrew it there with the 2022 channel, but slammed right into it here. It got rejection there. So, again, I think you're coming down to take out the 50-week moving average. Going to take out the trend line of the rising wedge and likely move towards the 200 and towards the April 2025 low. And then probably back test this level. And if you do, you're going to have a massive head and shoulders pattern. We may get a smaller one right here if we bounce at the March low, as I've talked about, but you could have a much larger one in play. Not only are we turning off this resistance, but I talked about the resistance of our long-term channel. And that's the 100-year channel in the monthly time frame. I've talked about this at great length and detail. We went up, slammed right into it, and reversing off of it. And, again, let me just bring up the 1932 low here so you can see I'm cutting it off a little bit. 1932 low. And, again, eventually you're going to be moving back towards either the midpoint of the channel or the blue line here, the horizontal support from the previous bull market highs back in 2000 and 2007. We're turning off of this channel. That's the point. This is telling us something major is about to happen. Now, even though we have this double top pattern, in the double top, the second peak, you have this little miniature head and shoulders pattern. Here it is on the 60-minute chart. We're breaking down from that. We got this peak over here on June 2nd. I marked this as a wave 1 down, and then a W, an X, and a Y complex correction for a wave 2 right here for a lower high here in mid-July. We turned it down. Could be starting now wave 3, but we've turned down with this diversions. Our side down on the MACD. We turned down, we formed this right shoulder, and we've broken down from that. We moved back up, but we did not fill the gap today. We still may do it. But as we're rallying back up, we're getting the bearish cross of the 50, crossing below the 200 period here in the 60-minute time frame. Remember, we already have the bearish arrangement of the moving averages on the 60-minute chart of the NASDAQ. NASDAQ's already taking out the June low down over here. S&P's got this head and shoulders pattern here in the second peak that's now playing out, and if that's it, then, again, we can make our way down towards the support zone here to try to take it out and join the NASDAQ. We've had signals, more signals turn bearish on the S&P 500 this week. Whether we fill this gap or not, we'll see. It's at 74.99. It could be, and I've marked this, but I could be wrong. It could be I have an alternative count here of the blue count, but I've marked this as with these smaller microwaves, wave 1, wave 2, wave 3, wave 4, and wave 5. Now we're getting what could be an A, a B, and a C if we come back up here, fill the gap, or even attempt to fill the gap, and I've marked that as a 2. I've marked this as a wave 1 for our first sub-wave down and a sub-wave 2 over here. If we do try to rally into the cloud, into the moving averages, into filling the gap at 74.99 from Thursday, then you might get a wave 2. And you might have the first sub-wave done here of crash wave 3, getting a second sub-wave, and that could be followed by the third wave, third of the third, or our third sub-wave of crash wave 3. I don't know if that count will be correct. L8 wave is speculation. I do have an alternative that we've already had a 1, 2, and we're now in the crash wave 3. This is another 1, 2, 1, 2 here, another 1, 2, 1, 2 that we just begin to sell off here, or again, fill the gap, and then come back, or test the moving averages, fill the gap, and still come down. So a couple different ways you can count it there, but we'll see how it plays out. But I'm just warning, we've got all kinds of sell signals over the last week here, previous week. A bunch of them, the previous week on NASDAQ, a bunch of signals this week here, that we just finished up here for the trading week, the S&P 500. 15-minute chart here, big so you can see it. I have it a little bit smaller to fit more in, but I want you to see this. Again, if we have completed the wave 1 over here after the peak of the W, the X, and the Y, completing the wave 2 here, then again, I'm watching to see if we do have a 5-league push higher with these microwaves, giving us this wave 1, completing wave 1 right here, then we could be getting an A, pulling back, getting a B, again, these smaller microwaves, and then coming up and getting a C, maybe going and filling the gap or coming up into this trend line from these highs back over here, rallying back up into resistance. So I'll be watching to see. If we do rally, we could sell off with the Fed or with tech or with both. Get escalation over the weekend or at some point next week. Again, that could be part of the catalyst as well. And again, there's no – I'm just telling you, we may fill this gap, and that could be a wave 2, as I've marked right here. The second sub wave, the second sub wave could have finished here, or again, my alternative count, the blue count here, wave 1 and 2, and that we're now in this 3, being planned, we just may see the free fall. Again, Elliott Wave is speculation, determined price direction by the process of elimination. So it's not some, you know, Nostradamus hocus pocus indicators, just looking at impulsive and corrective moves and determining price. That's why I have several counts, and we use the process of elimination. That's all it is. If we fill the gap here, 74, 99, last Thursday's gap, may not fill that. There are other gaps that have not filled. We didn't fill gaps back at the top. We didn't fill the gaps here from the previous week at 75, 35. We did not fill that gap. We didn't fill the gap here at 75, 72, the previous Thursday's gap. From the previous week, we had those gaps on Thursday and Friday. We didn't fill those gaps. We don't have to fill this gap, but you may fill these gaps at a much later date. You may not fill these gaps at all.