Morning Note 12.08.24

A word of caution

To me this correction seems to be more than just a little profit taking like in april, as we are seeing big bearish movements underneath the surface.

Although last week was encouraging, the bottom does not have to be in yet.

Last years correction saw peak fear almost in the beginning of october, yet the botto was on the last day of october.

So looking at the price action from that correction, we can easily assume that we are not done yet.

October 2023:

August 2024:

Now this doesnt have to play out like this, but I am not putting my money to work on the Long Side for now.

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