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Are We There Yet?
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Are We There Yet?

Are We There Yet?

by The MoleMarch 29, 2010

I know what you are thinking – how much further can this thing go? Should I cover here or is SPX 1200 in the cards? Well, it’s time to take a look at our medium term wave count:

This third wave just keeps sub-dividing – I’m not even going to try to count this thing on less than a Minor degree level. Either wave {3} completed on Friday or we are heading for 1210ish. 1195 is highlighed as it’s a 161.8% fib extension but would the bulls really have 1200 in their sight and not try to push beyond it?

It’s probably smart to take at least partial profits if you’re on the long side – you had a great run – congrats to you. But let’s not get greedy here, shall we? Higher tape is definitely possible, especially considering the current NYSE A/D ratio reading which is almost at 2.0.

Cheers,

Mole

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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