Tuesday March 13, 2018
Just a few days ago, I read a front page article in the WSJ that investors, after this 'correction' were still fearful of missing out on the rally.
Rally what rally?
If I understand anything about Elliott Wave, we have three down two up , a new five wave to the downside. This was followed by an impressive A B C correction to the upside. indeed, last Friday was up 440 points But....
the Moving Averages are all converging which is what they do before a change in direction.
PMO is making lower highs as well.
Russell 2000
To fool most of the people all the time, some indexes will make new highs like the Russell 200 here. This will encourage the talking heads at CNBC and even stockcharts.com to stay reassured the bull market is still in force. But...observe, this is still an A B C pattern now rolling over, and the MAs are beginning to converge
Gold
Meanwhile this chart is moving up
Stocks are topping
Commodities are advancing
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