Well, the market is still grinding higher. It never an exact science on these turn windows. I still think we will revisit the low before we blast off to new high all time highs. But it's taking longer then I expected to give up and rollover it seems.
I will say that since the month of April has now closed out with a long bottoming tail candle odds are quite strong that the coming move down will not be a blow out deep new low. Odds are it will be a slightly higher low, or just a hair low... like a double bottom? It should be deep enough to scare all the bulls out and suck in the bears looking for a crash. But it won't be, and instead it will turn back up in a wave 3 most likely with the pullback being the large wave 2, and the current rally the large wave 1.
On the short term we are probably in a small degree wave 5, inside a medium degree wave 5, all inside a large degree wave 1 up. Once finished we should see an ABC down for the wave 2 and the A and B waves should start soon, with the C wave likely being next week from the looks of things. Here's a chart...
The moves have been very hard to figure out, but I think this is the most likely plan going forward the next week or so.
Have a blessed day.
