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Monday, December 26, 2016

Monday, 12/26/16 update

The activity since the mid-December highs looked to be a triangle type correction in progress.  That still may be the case, but it's also possible that the pattern will be a simple zig-zag.  Both possibilities are noted in the hourly chart below.  Either way we should see a rally to new ATH's once the corrective sequence is resolved.

Daily chart:

Saturday, December 17, 2016

Saturday, 12/17/16 update

Christmas rally in the ES continues in progress.  If this count is accurate the ramp up from the election day low has some distance yet to travel.

Short term count:

Longer term view:

Saturday, December 10, 2016

Saturday, 12/10/16 update

Moon shot in progress.  Who knows, the way this is unfolding we could well be aiming for Mars!

Long term view has the ES/SPX in Major Wave 5 of the bull market that commenced in the spring of 2009.  Current count has it in Minute W3 of Minor W3 of Intermediate W3 of that 5th wave - i.e. the 3rd of the 3rd of the 3rd.  The price action since the election day low certainly has been confirming this view.

A very preliminary target for Major W5 is ES 2569, but the emphasis is on preliminary.  It's far too early to know how probable that target may be. 

Saturday, December 3, 2016

Saturday, 12/3/16 update

Current preferred count for the ES: