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Saturday, October 4, 2014

Saturday, 10/4/14 update

One would like to think that a significant top in equities was seen in mid September and that the long awaited bear market correction is in progress.  Certainly looked that way earlier this week.  But "Al's Daily Indicator" signaled the likelihood of a bounce of some sort on Thursday and sure enough the ES moved up sharply off of Thursday's lows and continued rallying into Friday's close.

So the intermediate term trend is still an open question.  A move above ES 1980 will greatly increase the odds that the trend is still up and new ATH's are forthcoming.  The alternate counts are as follows:

Top already in:

Top not yet achieved:

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