Nothing has changed since Mondays post. Watching the market yesterday was like watching paint dry. While I don't know the "when" part I do think the market is going to hit the FP on the SPY (and pierce it of course). But I don't think it's going to be a straight line, and neither should this move. Since the next date for an expected low is around this Friday the 28th, or Monday the 31st, I'd have to think that's where we see a pullback from this rally, but I don't think it will be a lot.
Horizontal support will be around 5750 on the ES, which is where those prior two tops are at. Below that is the 5650 zone where the two bottoms happened from those same two tops. I doubt if we see that much of a pullback, but anywhere in that zone would be where I think we'll be at this coming Friday or Monday. Then we should get a big squeeze starting April 1st that last into the end of next week. Below is a chart with the possible wave count.
As for today and Thursday we could grind a little higher I guess, as we need to see the pullback start on Friday and end Monday I think. That move will probably be an ABC in a wave 2 down of C up... all inside a larger B wave up. Meaning the expected rally up starting April 1st (to the 4th) should be a wave 3, 4, and 5 inside a C wave, which once it ends so does the larger B wave up. From there, into the end of April (or early May) we should see the larger C wave happen, and of course it will have 5 waves inside it, and those waves will subdivide too.
Have a blessed day.
