Well, the 22nd February risk window noted in my last update appears to have been a turn. Based on the lack of panic, I am still assuming this turn in Elliott Wave parlance is forming a small "b" downward correction in a larger "B" or "2" upward correction in the current bear market (the choice depending on Teddy or Grizzly Bear market which is yet undetermined).
The next risk window for a turn or trend acceleration identified by the system appears at this point to fall on next Tuesday or Wednesday March 1st or 2nd. Please note this system does not pretend to catch all, just some turn events.
I am developing a severe crick in my neck scanning the skies for the black swan that I believe is needed to drive the next major leg down in the stock market which I foresee in my cracked crystal ball. No black swan or if the FED open mouth committee can gun it down before it can fly over Wall Street, then it's a Teddy Bear market possibly driven by the shear weight of stupidity that seems to permeate every major issue these days. I believe the black swan is needed to create the panic required for a true Grizzly Bear market. I thought the nature of the beast would be clear by now, but so far no cigar.
Anyone else out there watching CABLE? The pound appears to be breaking below important support. Simple chart techniques I use yield targets of 1.31 and 1.18 dollars/pound. Cycle charts of the pound I use point to the low as soon as June which nicely coincides with the BREXIT vote.
Regards,
Douglas
