Post FOMC Note

One of the reasons for my venting my frustration earlier was the price action I’ve pointed to with the orange arrow. If the “2” was where I have “A” now, we should not have produced that sloppy, overlapping mess. And being honest about that made me look for darker alternatives.

However, adjusting the wedge a bit (on cash), this looks cleaner, like a better breakout, backtest and go. And it is possible to label the choopy part as the “B-Wave” of the “2.” And “B-Waves” are almost always messy.

So, if we get followthrough, I will be satisfied that the bullish view may have some real legs.

If we’re in a 3rd wave, we should start seeing some gaps (could be one, could be more), and I would like to see us head to the orange box at a minimum, and stay up there.


Note: When articles are first published, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced (or to join my Discord chatroom), please consider becoming a patron. Note that there is a 7-day free trial period. More information may be found on my About page and on my Patreon page.

Leave a Reply

Your email address will not be published. Required fields are marked *