Here is the 150-minute M/A of DDM. Exited 1/2 at 47.70.
The rally off of the lows is a 3-wave. This is not disturbing, but it means that there is going to be backing-and-filling before any self-sustaining advance begins. Still bullish short-term, but wishing there was a 5-wave there.
Silver bothers me. It participated in this morning's stock market rally, but hardly at all in this afternoon's decline. Must be world events.
I agree with your assessment about this taking a bit longer to top out. However it would appear Brazil, which often leads, isn't waiting for 4/2. Have you tried applying your system to emerging mkts?
ReplyDeleteI haven't run the correlation with all of the inputs against emerging markets. I need history going back to at least 1970 to build a high confidence factor. Eventually I will expand markets covered, but I1 and U.S. stock market is my premier event.
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