Dec 15, 2016
US indexes intermediate term
The pattern for SP500 is not very clear so I went through all US indexes which I know and think are important:) I would say the bullish case prevails. I wrote that I expect one more higher high with divergences, but it is more likely that this will finish wave 3 and the very long corrective wave from July to November disguised bullish move. The plan has not changed just the move lower into April could be smaller than expected. - For the bullish case we should see one more higher high then lower into April wave 4 and 18 month cycle low. - For the bearish case there is a lot of "if". Even than do not expect reversal and plunge lower so no need to rush with shorts. Russell2000 the bullish case looks better, the bearish is possible, but first we need to see an impulse lower and lower high.