Sorry, my biorhythms are low today. It's cold and flu season in a lot of places, and some of us are feeling yucky. Then, too, there's a lot of bad news out there (CA wildfires, etc.) and I just didn't feel like doing a lot of work today. But one thing I did want to look at after the New York Composite Index was the "Equal Weight S&P 500" symbol RSP. The daily chart is below.
There are two levels of overlap indicated. Overlap L#1 should prevent us from seeing a fourth wave from the August 2024 high, almost definitely. And Overlap L#2 should prevent us from seeing a fourth wave from the July 2024, as well. Again, that is in this index with less influence exerted from the cap weighting and the Mag 7. I also can't find a good spot yet to create a triangle in this index.
So, we'll have to see how this plays out but one often notes inter-market divergences accompanying a significant high.
Have an excellent rest of the weekend,
TraderJoe
Thank you, this is great and I didn't see it in my chart hunting today. If it's not a C complete this week, I will be surprised. DJI looks very similar to this. Get some soup and rest!
ReplyDeleteThat high looks like a b wave. This latest low is most likely a second, not fourth, wave
ReplyDeleteAugust to October we counted an impulse. We had abc extended flat since the october top. That's the bull take
DeleteSee the next day's post which is up, now. TJ.
DeleteTJ, Hope you feel better!
ReplyDeleteThank you so much. Hope you are well, too!
DeleteTJ
Medical research has shown that Vitamin C, Vitamin D, and Zinc supplementation can provide support to one's immune system. 😊
ReplyDeleteAh...yes indeed! BUT...there is no substitute for a hot bowl of Chicken broth, freshly made. I prepare mine in a pressure cooker using about just over half a lire of water and a 1/4 Chicken with lots of Garlic an Celery for a rich yield Ready in 15 minutes. Does wonders!
DeletePut salt , black pepper and green pepper diced. No celery..it will make the best soup and will give you a buzz
DeleteI take Ivermectin as wel as the regimen described by Henry Gondorff above.
ReplyDeleteA new post is started for the next day.
ReplyDeleteTJ