INDU below:
NYA next:
Finally, SPX:
Frankly, because of all this, I still have no strong opinion on whether we're dealing with a B-wave high under construction, or are in the midst of a third wave rally. All we can do is watch how the market deals with support as it comes down to retest it -- if prior resistance has turned into support, then bulls probably keep the ball. If support fails significantly, then bears may get their B-wave. Long-term, the preferred count remains bullish for the time being. Intermediate-term, I'd still prefer we see a better correction, but the market doesn't really care what I want, especially as long as it can swim in Fed/stimulus money -- so we'll just take it as it comes for now. Trade safe.
No comments:
Post a Comment