"You can't always get what you want.....ya get what ya need" - Great British Philosopher.
Uptrend continues as the whipsaw since 1/26/18 fades to background. Meanwhile, Bulls get what they need as we navigate to reaching all time high (ath). Other indices have led the way while SPX and DJI will follow.
I now have much more time to dedicate to my analysis and have started to re-engage with my assessment of timing. Strangely, direction is the easier part with no shortage of estimates for price levels. I'm excited to get back to my analysis of timing and have begun looking at the shape of wave 5, including where it stated. Whether at "e" (early May) or "c" (early April) in the diagram the path is clear - upward wave 5, time tbd.
While we get what we need along wave 5 you can't ignore that wave 5 will eventually end. I expect short term headwinds in August. An early estimate of wave 5 ending October 2018 may only be an interim high before an eventual final top. At present my estimates point to March/April 2019 as a terminal point and it is not pretty. I'll certainly be writing more about that in the weeks and months ahead.
For near-term comfort, note how the trend lines and 200d sma (both in red) rise to new ath towards the right of the diagram. Those are attractive levels, and those indicators are the ones we'll use to inform us about future trouble spots.
For now I'll enjoy watching the shape and timing of the upward trend as wave 5 unfolds. You can entertain yourself by following summit neeting, tariff talk, Fed meeting, etc., or choose to ignore them. None have factored into my perspective, unless Powell says something relevant.
Uptrend continues as the whipsaw since 1/26/18 fades to background. Meanwhile, Bulls get what they need as we navigate to reaching all time high (ath). Other indices have led the way while SPX and DJI will follow.
I now have much more time to dedicate to my analysis and have started to re-engage with my assessment of timing. Strangely, direction is the easier part with no shortage of estimates for price levels. I'm excited to get back to my analysis of timing and have begun looking at the shape of wave 5, including where it stated. Whether at "e" (early May) or "c" (early April) in the diagram the path is clear - upward wave 5, time tbd.
While we get what we need along wave 5 you can't ignore that wave 5 will eventually end. I expect short term headwinds in August. An early estimate of wave 5 ending October 2018 may only be an interim high before an eventual final top. At present my estimates point to March/April 2019 as a terminal point and it is not pretty. I'll certainly be writing more about that in the weeks and months ahead.
For near-term comfort, note how the trend lines and 200d sma (both in red) rise to new ath towards the right of the diagram. Those are attractive levels, and those indicators are the ones we'll use to inform us about future trouble spots.
For now I'll enjoy watching the shape and timing of the upward trend as wave 5 unfolds. You can entertain yourself by following summit neeting, tariff talk, Fed meeting, etc., or choose to ignore them. None have factored into my perspective, unless Powell says something relevant.