E-Wave for the S&P 500 Index

[gdl]

The window for any dramatic drop has only till Friday. After that we rally thru holidays. The Monday rally will cushion somewhat a bad CPI. I still do not believe we are in a new bull cycle nor do I believe we can continue much past New Year. The street i down right giddy today making bold optimistic assumptions for 2023.

I am perplexed how the dollar and bond yields are still so low. the street is obsessed with the notion of a slowdown. Inflation has already seeped into wages. Once that happens with a tight labor market it is impossible to break the inflation trend anytime soon.

I am still waiting for that 4 day crash scenario. Like waiting for Godot. the timing and mass psychology is ride here but once the holiday spending period kicks in the FED will never allow a drop like that. It starts tomorrow or not at all.