We had a nice pullback yesterday, which looks like it was a C wave inside my wave 2 down, inside C up to complete wave B. Today, tomorrow and Friday we should continue to have these wild swings up and down as we setup next week for a big move up to challenge the all time high, which "if" if follows my wave count from January 6th it will be a lower high. That wave count is posted again below.
Now if I'm wrong on the lower high then we might see a blow off top rally that will squeeze up to the FP I have on the SPY (over 6500 SPX), which I'd think will end the week after the 20th... call it "The Trump Euphoria Squeeze", which will sadly mark the final high for the year (and many years I suspect). It reminds me a lot of the 2015 pattern where the current market is similar to the 1/23/15 to 2/2/15 pullback, and below is that chart...
So while I'm not saying that we will follow that prior pattern exactly there are a lot of similar moves with it compared to now. If it does continue to track it then next Tuesday or Wednesday would be like 2/2/15 and mark the last low before a big squeeze for the blow off rally into 2/25/15 back then, which might be the end of this month roughly. If that plays out then of course the wave count will be different, and below is that chart...
If, that's a "BIG IF", we see this move play out no one, and I mean NO ONE will see if coming (except a few lucky people that read this blog), and it will hit the FP on the SPY that is above 6500 and that will end it all. I will post the FP when this starts to happen so everyone will know when to exit their longs (if they buy some early next week?).
Have a blessed day.
