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May 11 2017

We may see a deeper pullback on stocks, based on E-mini S&P500 count which shows a three wave move from March lows into a new all time high that was seen just for a day near 2400. Price is ticking lower now, so we may see a retracement back into the middle of a 2319-2400 trading range to make this wave four more complex; a flat maybe even a triangle. Also, there is a gap near 2350 that may not stay open for a long time. Once wave four correction will show evidences of a completion a new strong bullish run may show up.


Flat correction 3-3-5

Why to fight that trend from 2009 low, when each retracement proved to be corrective since then. Why would this time be any different? It's not enough data to look for a top yet.





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