All the headlines are coming in about the bull market being on right as ES enters the pocket. I consider this to be a corrective wave. Is this the time to be contrarian or double contrarian? Time will tell. Inflation has been stubborn, fed rate hikes will likely continue, I've been telling people for a long time that this recession has been too-well anticipated and so it's going to be drawn out and confusing. Time will tell.
Comment:
This week will be critical. Possibly one more push up to clear out early shorts then the C wave begins. Favoring 2700-3000 but that's heavily dependent on macro conditions. Frankly much lower is in play as this could be wave 5 of a macro 5 wave impulse that started 100 years ago. My favored count indicates the 2000 and 2009 "crashes" being the corrections of an expanded flat wave 4. But, as always, time will tell.
Comment:
Pocket of the pocket
Comment:
As always, it's nearly impossible to time the highs and lows of the market, I'm still bearish until 2024. The liquidity from the very first high of the bear market has been taken, right as the US credit rating as been downgraded. Interesting timing.