|SPX 09-25 30D|
The McClellan Oscillator had a second day in a row with a small change, so we should expect a larger move on the indices soon. VIX and the volatility ETFs weren't too worried about the tape today.
Sadly, Karl Denninger has lost all touch with reality now and is off in space with his delusions while his favorite stock swirls the bowl, lashing out occasionally to ban the few remaining thoughtful participants on the ol' TickerForum. Would you buy a tech-oriented investment newsletter from this nutcase? I didn't think so.
Asimov will subscribe, if the price is right. How about ... a dollar?
Hey, wait, I just noticed that with the extra time spent today, now we can count this entire wave from the 1627 low if we wish.
|SPX 09-25 counting from the 1627 low|
The important thing for me is having an unbroken 2-4 trendline, which I thought we wouldn't get thanks to how we bounced around down there. But this wave ate up enough time now to give us a legal count on my rules. And, counting the wave 3 from 1628, now we can see that this wave 4 has actually NOT exceeded a .382 retrace.
I like it.