In December 2018, when the SPX fell downward out of the corrective channel that I anticipated it would follow (above), dropping to the ~2350 range, I realized, when my alternate lower target was hit to within 3.5-points on three waves down, that a more complex fractal, a double zig zag corrective fractal structure was developing instead, and on 1.4.19, forecast the SPX to rise to new ATHs within months.


Link to larger chart:  Link


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Yesterday, I posted a chart of the NYA 1-year cumulative advance/decline line, showing that though the Dow, SPX and NDX had all rallied to new ATHs, the 1-year cumulative A/D line was not confirming the new highs, nor a continuation of the price advance at this moment, though I was open to seeing how this played out over the next few days, to see if the breadth improved to validate new highs in the broader US equities markets.  Link to IG post: Link


Later in the day, I receive a note on one of the social media platforms to inform me that I was mistaken, and that because the NYA had not pushed to a new price high, and its 1-year cumulative A/D line did not either, there was no technical failure.

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