As expected, the SPX found strong resistance in my targeted 1942-48 range (high 1944.9) and corrected accordingly. While the decline looks corrective in nature and found support at the 0.382 retracement which is ideal for a wave (b) retrace, it is too early to tell if a tradable low is in place. It must be […]

US equity markets reversed higher on Friday from previously identified key support levels for the SPX and DJIA. So far so good. It isn't the cleanest 5th wave which leaves the door open for another retest, but support is support until broken. Friday's reversal higher on "bad" news after the futures cleared out remaining stops was […]

SPX now has enough waves in place to complete the decline and found support at my 1910 level (actual low 1911.45). I am a buyer of equities here. There is no guarantee that the decline won't extend but we can't trade on if's and maybe's. We have a potentially complete structure with likely termination at […]

Well, I'm back from my sojourn and the markets have followed my projected price path well. No surprises here as US equity markets unwound the remaining 4th and 5th waves while outperforming the European markets as suggested a month ago. The decline from the recent all-time-highs in SPX is clearly impulsive and requires a small […]