Weekly Chart
I just thought I would do an update to where I think we are in the broader markets. 1st I thought I would post this weekly chart so you can see my count as to when the "BIG CRASH" might (might take place). I am thinking not until the next presidential election. That's just a guess. Nothing special about it. But I think the Trump policies, once allowed to happen, will be great and very hyper bullish for the markets. That, combined with the flight capital leaving Europe which will inevitably make it to our markets as Europe implodes will propel the market super high. Who knows, I might be conservative on my chart. Time will tell.
I think this spring we will get that correction that some people have been talking about. But before we do that larger pullback (which would be a wave 2 of the large wave 5) I think we will see the sp500 reach approximately 2500. I do think that we will get a rate hike in March but then, just like last time, we should shoot higher to that 2500 mark. This would encourage the Fed to raise again. The Fed likes to hike if the market shows it can handle it. For example, If we crashed down to 2000 with the March rate hike then I absolutely not believe they would raise again for a long long time because that would show weakness in the market. I will put up the daily next to show what I mean.
I just thought I would do an update to where I think we are in the broader markets. 1st I thought I would post this weekly chart so you can see my count as to when the "BIG CRASH" might (might take place). I am thinking not until the next presidential election. That's just a guess. Nothing special about it. But I think the Trump policies, once allowed to happen, will be great and very hyper bullish for the markets. That, combined with the flight capital leaving Europe which will inevitably make it to our markets as Europe implodes will propel the market super high. Who knows, I might be conservative on my chart. Time will tell.
I think this spring we will get that correction that some people have been talking about. But before we do that larger pullback (which would be a wave 2 of the large wave 5) I think we will see the sp500 reach approximately 2500. I do think that we will get a rate hike in March but then, just like last time, we should shoot higher to that 2500 mark. This would encourage the Fed to raise again. The Fed likes to hike if the market shows it can handle it. For example, If we crashed down to 2000 with the March rate hike then I absolutely not believe they would raise again for a long long time because that would show weakness in the market. I will put up the daily next to show what I mean.
Comment:
Looks like we closed that gap today. Tomorrow is the ADP report which should be great. Who wants to bet we start our micro 5th wave rally tomorrow?
Looks like we closed that gap today. Tomorrow is the ADP report which should be great. Who wants to bet we start our micro 5th wave rally tomorrow?
There is my count for the daily. I think we should consolidate for only part of this week and then I am expecting a very large ADP and NFP report to propel the market up until the March 15th FOMC meeting. I think a rate hike will have a short term affect on the market in the form of a daily cycle low DCL which would also line up with my cycle analysis. Cycle analysis for the broader market is much more difficult than with miners and gold. The cycles can stretch and shrink. But in my opinion this thought that I have about the bigger pull back seems to line up very close to my cycles. So lets see what happens the next week or two. I might buy the Vix if this does reach 2500. But I would buy in a couple days before and only hold for 2 - 4 days. For some reason it always seems to start a shallow pullback a couple days before. I am not expecting a big pullback until the May 5th FOMC meeting. GL