May I rephrase, I do not subscribe to retracement as necessary to price progression.

Retracement is for the manipulators to catch their breath after they have been cought off guard. Once they recover a bit only then they take a step back for the buyers to exhaust themselves after which they go back in during a softening of buying. They well know that the pressure is on so they conserve their paper for times when their action requires least effort.

Thay are in control and we are just pawns in their game. China and other dollar holders hold the trump card and who knows when they will play it.