Markets been creeing up slowly with low volume. I did not expect us to get to these levels, but for now it looks like we could reach 1240's early this week ( Monday ) and then the big move down wave C should come.
Main target for wave C down is 1150-1170 area and in dow jones right below 11k I believe.
ISEE index at record highs and has never been so high before , which is a good sign for a major, major top in place.
The quesiton is if this move down which should be comming sometimes this week is if its P2 is done to the upside or if we are making a pullback in a wave 4 down. Price/action should tell us, but so many bearish signs and negative divergences in indexes , which do not confirm this rally up.
Every chart is at the extremes overbought conditions with sentiment of bulls very high.
I'm still bullish the dollar since 74ish and think that the dollar would see a major move to the upside this week ( target 84-85) before a pullback.
Have a nice week !
Waiting for Godot?
ReplyDeleteI say TZA will see $10 before it sees $20. I think TZA may never see $20 again other than reverse split. Good luck.