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Listen to Mark S. Young's Interview on MarketView
Wave "V" of wave "3" off the 2417 low targets 2631 to 2663.
As I've mentioned before, since last years election all upside projections have been met and many have been exceeded, while only some of the downside projections have been met and almost none have been exceeded. This is obviously very bullish action. Over a month ago I mentioned that there was a projection to 2530 + or - 10 and nothing higher. Not only was that projection exceeded, but we never had a decline below the 2.5 week and 5 week offset for weeks until recently to get a downside projection and then set up the next upside projection. The 5 week downside projection to the low 2550's was given and met in the same day and we now have an upside projection to 2605. Commercials have gotten a little more cautious increasing their shorts, but not quite to a dangerous level. I may be viewing the market more cautiously in this rally phase especially as we get in to early December, but will have to view the summation index readings as we go higher assuming we do. While the 2800 on the S&P is a target projection, I doubt we get there before March April and may have a December January pullback first.
Currently at Neutral. Internals today getting weak again.................
553 Views · 12 Replies ( Last reply by redfoliage2 )
Did a double take when I came across this - as it has been my supposition since the election that the only way to neuter the deep state(drain the swamp) was to send the marines into langley, it maybe a prelude to unsealing those 1800(?) sealed federal indictments that have amassed over November (think Saudi purge - US style). If this bears out, the financial implications could not be understated.
I have no idea about the veracity of the report and can only pray it is accurate.