The Market Perspective: Wave Two Top Tracing Out

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It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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May 07, 2025

Wave Two Top Tracing Out

5/7/2025

I cannot locate a symbol for the magnificent seven thought cnbc and bloomberg have created an index, but here is the NDX and PMO has turned down. All three SPX INDU NDX are tracing out Wave 2 tops, not PMO crossed over and is turning to the downside.

SPX

The SPX as O say displays a similar pattern. I suspect that once these three top and head lower it will be a Niagra Falls event.

SH PSQ HDGE are forming bottoms and it is a start stop event, accumulate.

TBF Bear Bond Fund

The big reversal at day's end suggests the new trend in bond prices is down.

Posted at 06:10 PM in Bonds, Stock Market | Permalink

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Market Commentary by Dennis Elam [email protected]

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