According to my risk summation system, the days this coming week with the highest risk of a turn in or acceleration of the current trend in the DJIA are Monday November 29th and Friday December 3rd.
Last week the risk summation system got its grove back hitting the turning top in the Wednesday risk window at what I think was the end of a 4th wave and hopefully hitting a low in this past Friday or this coming Monday risk window. The action Friday was classic risk window stuff with the DJIA down a thousand points during the day.
Well, I called the top again and this time it answered the phone, clearly hung over from partying too much and belligerent at having been disturbed. I know not to get too cocky, though, since I'm sure the FED is spending this weekend gearing up the pumps to run in overdrive to meet its stock-market-always-up mandate, so this may only turn out to be "a" top not "the" top, but that will only be clear in hindsight.
Speaking of hindsight, no one made fun of my Elliott wave count in last week's posts, despite me changing it only hours after posting it. I don't know if that was pity or just indifference. This week should clarify if my primary count which is short term bullish after a low on Monday or my alternate count which is very bearish is correct.
My trading system is chomping at the bit to buy, but that's primarily because during this long bull market I've jiggered it to get bullish during any small correction, because of the new aforementioned FED mandate. IF, and that is a very big if, the FED has suddenly gotten inflation religion, which is now in doubt given the Nu bug variant, like Meryl Streep with a bad accent, out of Africa, I will need to again tinker with my system to cope with a bear market, something many, many newbie traders have never even seen. Regardless, I'm FED up with waiting for Godot.
Regards,
Douglas