See here: http://stocktwits.com/message/22165570
And here: http://stocktwits.com/message/22388553
As you can see those charts nailed the top and bottom near $32.00, virtually to the tick and that warning was very real. I noticed at the time that sentiment was very bullish, which is usually the case when a market makes a 5th wave, yet those that understand price action were the ones trying to "get out" as most traders/investors were trying to "get in".
Such is the way with the markets, most are bullish at the top and bearish at the lows.
I am now issuing another warning for those that wish to listen. Sentiment is once again bullish and many are expecting the market to race higher, but i urge some caution here as a suspect this maybe a "B wave trap".
The move from the lows in Jul 2014 appear to have a 3 wave look, further more the measured move target where the 2nd up leg equals the 1st leg sits at around 43. Hence it could be a B wave of a flat pattern.
If the market finds trouble at 43 and we see a strong reversal back under 37.00 I fear traders will again buying a bull trap just as they bought the Apr 2014 highs only to see it crash 50%.
In order to confirm a strong 3rd wave to the upside, the bulls need to see a strong gap up over 44.00 and blast higher, failing that i suspect the bulls maybe disappointed.
A bit of patience here could save you making a big mistake buying the market.
If a 3rd wave to the upside you will have plenty of time to get on board as there will be plenty of upside.