We have got the highest weekly close on the $SPX, as suspected. Now what?! Not much bear talk over the weekend, and the ES futures are trading higher already. Soooooo… gap up to 1906 on Tue morning to finish wave 3, and then crap for wave 4 down (to 1886-1890). Then, we will have wave 5 coming up just in time for the EOM window dressing (and highest monthly close for the $SPX). We will top in the 1st week of June, IMHO. If you know in what year the Federal Reserve Act was signed, then you know where we are headed. Once we get there, at 1913 (even better at 1923!!!), I will enter my short position for 10-15 sessions, or so, until the next FOMC meeting in mid June.
This is what my crystal ball is telling me…
Happy trading everyone!
