We're now three weeks into a chop zone within a still-larger chop zone... and I haven't had this much fun in a market since that time way back in high school when my then-buddy Dan got chased through the Quakertown Farmer's Market by an angry vendor. (Dan, if you're out there: You deserved it!)
Seriously, this chop zone is more fun than a barrel of rabid fire monkeys with functional chainsaws. (Are "fire monkeys" even a real thing? Well, they should be! Err... maybe not. The world has enough problems.)
Anyway, there's been no real change since December, which is when I first came up with the black (C)-wave count, primarily based on instinct, which has made it hard to have too much conviction about it, especially since I do ultimately expect we're still in a bull market, and the aforementioned C-wave would simply be a bull market correction (if it materializes, of course). Yes, that was one single run-on sentence. At least now it doesn't constitute the entire paragraph.
On the plus side, we may finally be getting close to an actual move.
Below is a more simplistic chart, along with a couple targets:
In conclusion, at this point deep within a chop zone, it just gets tough to keep these updates interesting, and to come up with anything that I haven't already said five times before. The bottom line is that I'm still ever-so-slightly favoring the black C-wave count, but since that's always been just a gut-instinct, I'm not married to it. I do ultimately expect we're still in a bull market, so with or without that black C-wave, higher prices are still expected in the bigger picture. Trade safe.
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