We're at McHugh's "major" phi mate turn +1 today, and here is a possible count for the failed 5th here. The bear-bull battle is important, and will likely resolve on some sort of intraday rejection and reversal, so as not to leave any pesky gaps in the chart way way up here in the ether.
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| SPX 03-04 intraday |
1 comment:
You were expecting some long-term top around here, but I was reading Robert McHugh at Safe Haven.
http://www.safehaven.com/article/29021/beware-the-ides-of-march
And he says this decline is just 'b' down, there will be another rally later 'c' up which will go even higher than now. (1700-ish he says).
Just wondering if you agree or disagree with McHugh. Since it seems like you think this is the final top.
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