So far, none of the second order node readings are in excess of .25 or so, which would suggest that the move up, is not over. Similar readings exist for both the $SPX and $NDX...Pullbacks may happen, but the uptrend should be characterized as 'young' yet...
2 comments:
Mark: I'm speculating that SPX made a top today, 888.6, and is now heading down.
Probably to the March 9 low?
Your thoughts?
Hi Bill,
We could indeed be seeing the completion of an 'A' wave around here somewhere...
For Elliot reasons I'm still suspecting we get a 'B'wave down and then a last 'C' wave up.
I'm basing this on the year and a half downleg into march 9th would need more than 2 months to be corrected with a rally. From a node standpoint that also makes sense as none of the secondary nodes are beyond .25, where terminations of patterns are normally .5 or better..But we'll see...
Regards,
Mark
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