Still expecting more upside in the stock market to abc the prior 5 down. Order shorting DJ futures still working at 11,220. Crude short order working at 86.275. Dollar buy order working at 77.82.
I1 bottoms at the close Thursday.
In your longer term forecast that you wrote months ago, you mentioned that stocks might begin a strong counter trend rally on this upcoming I1 bottom (that is, beginning on Nov 18 or the following day). Are you still thinking that a strong rally could begin on Nov 18 or 19, and will you go long then?
Good morning, Steve.
ReplyDeleteIn your longer term forecast that you wrote months ago, you mentioned that stocks might begin a strong counter trend rally on this upcoming I1 bottom (that is, beginning on Nov 18 or the following day). Are you still thinking that a strong rally could begin on Nov 18 or 19, and will you go long then?
I don't expect a strong rally on the 11/18 bottom because I1 remains weak through 12/21. I'll post a current I1.
ReplyDeletethanks, Steve.
ReplyDeleteI neglected to put in the post that after the 1/6 I1 low that the subsequent rally will take it to over 5.
ReplyDelete