A quick update as I’m watching things unfold today: The probabilities are increasingly shifting in favor of Wave 3 (Scenario A in this morning’s posting). We expect a continuous push up in the S&P cash index ($SPX) to about 1266.
What we are waiting for here is a drop with associated volume at or before 1266, after which we plan to go short the market in a big way. Once/if that happens we will post our trade picks right here, so stay tuned!
UPDATE after market close: Here’s what actually played out:
