Strange out there in chart land...(might just be me)
In search of a 5=1, red and blue 1 were both 350ish. All well and good as far as it goes...2170-2180ish...which is not out of line for a juiced market this time of year.
The first thing that leaps out at me is the big picture - regardless of whether it might be red or blue 5.
If we were to look for five waves to 5, it gets insane quickly.
To date, it would be 236 pts of wave i of 5 - just meandering with that thought. Standard fibs would imply 2.86 x 236 for 675ish - implying a target in area of 2500. Just saying...
With the crack ho's we have in the Fed and their bosses on the Street...entirely possible. Moreso given the time of year...juicing it into May-June like recent years would do it.
KISS (Keep It Simple Stupid) says that is a reach (to my mind).
But faith in Da Boyz being the biggest ho's in the world, and owning the finest government that money can buy, paired with all the bears that can't wait to exact revenge for all the years of failed TOP!!!666!!! calls might just do it. Could do it.
But that is where I go...Show Me, Don't Tell Me.
(pretty useless in any trading sense...but I am slow digging in (out?). Since I have more interest in flyrods than markets in the near term...long/medium may be all I look at this week...but will try to look at wiggles sometime in next 2-3 weeks. Or not. <G>)
Y'all have fun!
Never did make my point directly...WILL THERE BE FIVE WAVES OR JUST AN EXTENDED(?) 5? (Or do we just pee on the fire and go home soon...)
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