Roger, are the algo's pointing to continued breakout? Like you I honestly thought that the 1410 would be tested... Kinda lost on this one. One thing I don't want to see is a gap up tomorrow, but given today's insane rise on building permits ( yeah sure that was it) and the cycles... I'm thinking maybe it might. Whadda ya see?
Model hasnt changed..volume continues bearish..OBV continues trending down even tho equities moving up..getting thin up there..market techs overall continue weak/neg readings. model continues suggesting> bear market rally
Until we take out 1422 model has this as a wave 5..62% prob> top view....minor wave 2 complete. crash wave as Im sure you are aware next wave. target remains 1200 initial then on lower.
every major index at the upper downtrend trendline..dax included..something going to happen soon..IMO vix bottoms first as it normally does, got to hold 13.66ish..tlt looks like selling climax at the low yesterday short term..sp sniffing around, just a thought.
USD holding current..Oil possible move lower here, looking like the corrective pattern over or close to it..possible move to 200dma then retreat. Gold formed larger pennent pattern..will be opportunity when it breaks either way