Monday, April 13, 2015
SPX and INDU: No Material Change
Still no real change to the past few weeks of updates, except to note that INDU has finally reached the red circle that was first noted on April 1:
SPX has reached the general C-wave target zone, but may or may not still have fourth and fifth waves left to unwind. This is definitely not the clearest wave to try and micro-count at this moment, so I can't place too much faith in the very-short-term counts right now:
No change yet to the intermediate picture:
In conclusion, the market has essentially been trading in a noise zone for the entire year, and reading too much into micro patterns inside a noise zone can be an exercise in futility -- so we probably have to default to the larger view as our guideline and paint with broader strokes for the moment.
Intermediate-term, there's been no real change to the picture yet -- the declines have appeared impulsive, while the rallies have appeared corrective (to this point, at least). Thus, there won't be any real changes until bulls claim 2120, or until the market creates a markedly new pattern. Trade safe.
Posted by PretzelLogic at 3:01 AM