E-Wave for the S&P 500 Index

[gdl]

This market gets no respect! The Crypto Guy is ignoring his own chart because he is CONVINCED we drop hard and fast right here and now.

He even concludes that the bullish indicators can only produce SIDEWAYS action. Lets talk about BIAS. We ONLY have till February 3rd to determine longer term trend. WHY? three reasons: 1 - most wave structured within a larger wave has a 3 month maximum target till it ends. Hardly ever seen one that breaks that rule. We already breached the 3 month target. 2 - BITCOIN broke out! 3 - Earnings season would already have the bulk of releases by then.

I even read an article explaining why the resilient job market is actually good for this economy and market. they actually see a slower inflation because of it. I guess they didn't see the other argument? you know WAGE PRESSURE!

Bias is in the air and the street is desperate to spin this in a positive light. It just might work this quarter. There is a reason you keep blinders on horses so they don't get spooked.

BTW the longer and stronger this current move shatters the wave count and MOST will conclude the bear is over. Me, I conclude this sucker hasn't yet started on the downside.