Friday, February 16, 2018

INDU Update: Ah, the Irony

The oft-mentioned article about how certain other forces may be impacting this current market (alluded to earlier this week) will be published later (I know I originally said "Friday" but it might be tomorrow) as a separate standalone, so be sure and check back this weekend for that article.

In the meantime, we're going to stick to our lone chart of the Dow Jones Industrial Average (INDU), because multiple charts probably won't add much to the outlook during a wave such as this one.

Here's the thing:  I am presuming that the current rally is a b-wave at some wave degree.  B-wave are supposed to be unpredictable and confusing.  I've been trying to get ahead of this one by attempting to figure out in what way it would be unpredictable and confusing.  The market has responded by being rather straightforward.

So I keep expecting the market to begin to behave in a way that is less predictable, which it isn't doing -- which is ironic. 

Perhaps things will "get weirder" soon.

In conclusion, there really isn't much to add at this juncture, because I continue to remain less than confident about the market's near-term path.  The market isn't predictable every minute of every day, only at certain times.  And at those times when it isn't terribly predictable, there really isn't much else to do besides await more clarity.  Trade safe.

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