SPX made a new high beyond last Thursday's. DJI and Nasdaq did not. This 5 up is probably not the top. So a top in sync with I1 looks more probable. I'll be exiting 1% SDS on a wave down leaving only a token position.
Crude, Euro, bonds, and stocks will probable make their extremes at different days/times. Euro looks to have topped early.
Subscribe to:
Post Comments (Atom)
you really think the markets can muster another 3 then 5 wave up over the next few days? Even without the euro?
ReplyDeleteI'm just going by I1 and it says Thursday, probably Friday. I have not seen -20 on the technical composite so market is not a sell on that side. The only explanation I have for I1 sell on 9/10-13 not yielding a negative number on any of the indices is that a 4th wave was in progress.
ReplyDeleteSteve
ReplyDeleteMy charts have 1160 as tops for SPX if we are going to stay stay in a bear market.
Jack C