The stock market has played out as expected as the topping head and shoulders pattern is on the verge of being confirmed with a move below 2035. The internal strength of the market has been weak for some time as my proprietary indicators shot off a high volume of sell signals with just a handful of bullish signals. I've already cashed in on some of those bearish positions and will be looking to add more bearish stock positions as the opportunities arise. For now, I see the S&P futures declining in wave (4) to the 1996-2014 area. From there I will assess any bullish potential that may arise.
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.
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