Monday, March 20, 2017

SPX and BKX: No Suprises... Yet

Still no change to the recent updates.  The market has tracked its projections well all month.  The current alternate is that ALL OF blue Bull 3 is complete, which (if it is) would then put us in Bull 4 down, with Bull 5 up still to come.

The near-term count outlined in the prior update has performed according to expectations so far.  Keep in mind the potential that ii/b and/or 2/b may still be unfolding.  Also bear in mind that the bearish overlap noted is not a "set in stone" overlap, because the overlap could be part of a subwave of 2/b, which would not violate any rules:

BKX has also held up its end of the bargain all month and honored the red iii label since March 3:

In conclusion, everything continues to track well, so the market's given us no reason to radically alter the recent outlooks.  Trade safe.

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