SPX Elliott Waves (SP500)

[gdl]

I call it the chop-zone. yes this market is behaving as it should after a big spike run. nothing yet indicating any sort of top. If the tweetmeter stays low the market should advance even further from here. I suspect trump was told by the GOP not to use the Tariff card on most nations with the exception of China. Everyone loves to hate China.

As always I use only one impulsive wave structure and that is Trump himself. If he stays away from major announcements the normal path is higher. the dollar is giving us a great clue. As long as it maintains higher highs and higher lows we should be OK with stocks. of course trade war news can change that dynamic on a dime.

I call this the borrriiiiing malaise period where writing options is the best play. G20 might wake it up.