Friday, February 24, 2017

MTU Weekend Ed.- Tracking the Upswings (2/24/17)

It appears easier to track the post-election rally using ES than SPX, and it appears easier to track the upswing as an ABC corrective structure rather than an impulse wave. See Chart 1.
The above observation has a similar impact on tracking of the rally since Feb 2016 in SP500. See Chart 2.
While these ambiguities carry over to where SPX is in a fifth wave ((v) of [3] or [5] itself)) or still in a fourth wave ([4]) with respect to the 2009 bottom, the inferred potential trajectories remain helpful. See Chart 3.



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