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Thursday, December 13, 2018
Market Timing Update (12/13/18)
SPX cash is still struggling with the green line (discussed yesterday). Overnight futures dipped to probe the blue line. While not required, the form would look better if there is one more higher high for the pink ii or red [b].
US Indexes - potentially dangerous pattern has formed. Will depend on whether prices can hold the lows of the last year as to what happens, and direction in Jan - March period.
If MT LT main trend remains up mkt will hold those lows. (EW basis unknown - wave extension ?).
If main trend is down given prob position on MT & LT EW count then price will slide thru those lows.
US Indexes - potentially dangerous pattern has formed.
ReplyDeleteWill depend on whether prices can hold the lows of the last year as to what happens, and direction in Jan - March period.
If MT LT main trend remains up mkt will hold those lows. (EW basis unknown - wave extension ?).
If main trend is down given prob position on MT & LT EW count then price will slide thru those lows.