I know, lately my daily updates are getting really boring, but I cannot change
my scenario.
There is no change:
The probability of a pullback is overwhelmingly much higher than the odds
that the up leg form the December 31 has much more business to the upside.
I have recently discussed that momentum end breadth indicators are strongly
suggesting that the most likely outcome has to be a correction, but price
so far has denied the unavoidable event. Maybe tomorrow's FOMC has something
to do with this market behaviour.
I remain confident that the recent price action is carving out a short-term
top but at the same time I remain wary of expecting a large correction, since
if my preferred count is correct, from the November lows, price is unfolding
a Double Zig Zag, which still needs one more wave (C) up, therefore I am expecting
a wave (B) pullback.
As I have discussed in my last weekend up date, NDX should have already begun
a technical pullback with a target in the range of the trend line support
(From the November lows) - January 2 gap fill = 2675 - 2660.93.
Contact: If you would like to contact the author, you can e-mail him
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The main objective of this project is to share my views on several markets
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In the initial stage TWT website will be a free service.
My main focus will be the equity market with SPX being the leader but I will
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My analysis is based upon traditional Technical Analysis, Elliot Wave guidelines
and investor sentiment.
My goal is to establish the most likely path that the price of a particular
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