For free and with no strings attached is November’s Elliott Wave Theorist. Of course, you know he is on his bearish plan (as usual) and this is a market that has quite frankly made a monkey out of this bright man with the persuasive and negative pitch. Patience. I actually put the odds slightly to a new market bounce and potential new highs after this little correction runs its course. But I think 2014 will ultimately be Prechter time and the time for anyone else separate from this little mania stocks have got going on. Good stuff in this Theorist.
Download the latest EWT here if you’d like. Here is one of the charts from EWT:
The S&P 500 has a very clear level that it must exceed before it is safe for holiday reverlers to hit the punch bowl. Meanwhile, the 50 day averages (blue) seem to beckon, at least.
Guest Post by Tom McClellan
December 13, 2013
The Junk bond fund HYG and its ratios to Investment Grade and T bonds say that the crack abusers are alive and well and hence, so is speculation as of this moment. There is no bearish divergence to the market by this measure.
This is Small Cap season, is it not? RUT led this correction and it will soon enough help indicate its continuing viability or lack thereof.
As the big, hype filled shadow of next week’s FOMC meeting looms over markets, we calmly review the ‘Continuum’ and note that if there is going to be a bond market reversal, the time is now. I look forward to moving beyond this infantile and cartoonish ‘will they or won’t they taper?’ drama.
The Continuum is at a point where it has reversed every damned time previously. If it does so again, the trends that have been in place for the duration of the Long Bond’s bottoming process and upturn are likely to reverse as well. So, will another red arrow be inserted above?