Groundhog Day

Time for an updated wave count. This week has not brought much in terms of resolution – thus all three scenarios are still valid:

Based on what I’m counting we might be tracing out some kind of double zigzag (abc-x-abc). Whether or not this is only a Minuette or Minor wave is academic at this point as it sure feels like we are at least in Minute degree territory – in terms of time and useless mental mastubation I keep seeing in the comment section.

The uncle point for confirming Minor 2 of Intermediate (1) occurs at 1,104.73 – which however doesn’t mean we’re going to bust a LOT higher from there. Nevertheless, there are no rules curbing the upside progress of a second wave reversal – all that’s imposed is that the prior high must not be breached.

Some more bear p0rn for you rats – interesting reading on my new fangled ‘vol-ume’ indicator.

For the record – I had an inkling that we would be retracing into the middle of February and had made that comment early this week. Since the next trading day after tomorrow is February 16 it’s not unreasonable to assume that we might rally tomorrow and perhaps on Tuesday as well. At which point I would however consider it my patriotic duty as an American to throw whatever leftover cash I have into short positions. May the evil trading lords have mercy on my soul.

Whatever you do – don’t do what I do – I’m loco like that…

BTW, I’m not sure how many of you have been following Geronimo in the past few weeks. Probably nobody as I see zero mentioning in the comments about how it just keeps kicking ass and taking numbers. I guess you rats prefer to go through the mental drama on a daily basis – hey, how’s that working out for ya? 😉

On that note – very few seem to be following the Zero these days – let me share a chart:

The real action in the past six months has been in the Zero Lite (see menu bar on top). Learn how to identify divergences like the ones I highlighted and you bank some mighty coin. And that’s just the past 15 days – the Zero Lite has kept me out of a lot of trouble over time and I would not want to trade without it. Personally it’s also a great guide in my wave counts as well. Either way – if you’re a noob go and check out the hundreds of EOD wrap ups I have posted (see categories on the right) which explained how to use this thing. However, nomadic retail traders seem to enjoy the mental anguish of guessing where the tape will go – or at least the process of debating it to death in the comment section.

Yes, they call this Evil Speculator for a reason – if I’m not insulting someone I’m seriously losing my touch.

Cheers,

Mole