Oct 31, 2014


The indexes just keep moving higher..... That was expected, but no pullback no nothing. It does not feel very "natural" this move. I prefer to see a pullbacks along the way, such vertical moves are not stable.
Counting waves and indicators looks useless but I will try:) - I think this is some sort of an impulse which is wave a of B of an expanded flat. The intermediate term outlook stays the same for now pullback and another move higher.
The McClellan Oscillator moved to very overbought territory above 80 and now is making a lower high. The futures are sharply higher playing with the last ATH 2019. I think we will see an exhaustion gap and a pullback wave b of B.

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