Yesterday went as well as a day can for numerous targets… and while it’s still a bit tricky for the bigger picture, the very short-term charts seem fairly straighforward. I’m going to lead with the short term chart, which ex…
Okay, I really have to rush now. I literally had the entire update done, and at the last minute had a “eureka!” moment. Despite the association with the popular vacuum cleaner, Eureka moments don’t suck (rimshot). But now I’…
Not much to add to Friday’s update — ideally I’m still looking for some type of larger correction in the foreseeable future. I spent an awful lot of time charting this weekend, so I’m going to spend more time sharing those charts and l…
Yesterday’s upward reversal gave the decline off 1378 the look of a three-wave correction, so unless it’s part of an expanded flat or similar, this pattern is suggestive of higher prices.
Interpreting this market with any confidence r…
For several weeks, I’ve been talking about the Fib zone at 1376-1378 and how I felt that could act as a magnet for the rally. Yesterday, the SPX hit 1378.04 and reversed. Could it really have been that simple all along? …
That got your attention! Too bad I’m making it up.
Yesterday, I gave my arguments in favor of the preferred count. Today, I was going to play devil’s advocate, and actually wrote an entire article along those line. That took two…
SPX finally broke the 2011 highs, which is a huge monkey off my back, since I’ve been insisting that it would ever since the Dow broke its 2011 highs back on Feb. 7. Now we’ll see if SPX has any interest in the double Fib zone…
Still no material change in the counts since February 8. The higher prices we’ve been expecting since then have finally arrived, and I believe that this standing target zone remains the bears’ best chance for a meaningful correction, due to …
Yesterday both the preferred count and alternate counts anticipated a rally, which the market provided. It ended up closing dead center in the target zone for the alternate count, which kept it from being eliminated. The pref…
It all seemed so simple when I started writing tonight, but after studying the charts in more detail, it’s not as clear-cut as I’d hoped. I believe the wave down from the 1367 high counts best as a 5-wave impulse, which initially had me leaning&n…
