Yesterday performed as expected in regards to a consolidation/correction. This correction may be over, or it may have a bit more downside left.
Some readers asked about the possibility of a top being in place, so I’ll address that…
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…
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…
Yesterday was primarily a market “noise” day, as it traded within a range inside the key levels. It does appear from yesterday’s action that blue wave 5 is subdividing. If that’s indeed the case, there are two primary routes for&n…
No material change in the counts since yesterday. The SPX hit yesterday’s targets, and actually exceeded my exact 1328 target by a couple points before reversing. A small moment of truth for the short term preferred coun…
In a perfect world, the completion to the Minor (2) rally would mark a new high which exceeds the October top. My preferred count of an ending diagonal suggests that perhaps the session today or tomorrow will finally complete that top.
Sinc…
