Replies to post #87 on SPX Elliott Waves (SP500)

[gdl]

I am glad to see this recovery. Makes a bet for a steep drop all the more enticing WHEN we hit the targets on momentum.

I don't know or care about long term charts. Going my own soon against the CHARTS. Here is why. 10 year historic bull run where rates only managed to get to the long term low end of range. Market desperate for big cuts and soon. It has ZERO to do with the economy, just pure GREED. Gotta love it! World recession coming and trade war is causing manufacturing to speed up its fall as well. The most optimistic call for earnings is a small one this coming quarter perhaps 1 to 2 percent higher followed by a DOUBLE DIGIT gain 2 quarters out. With employment at peak, services at peak how the heck can they accomplish that? I know, by enticing the consumer to spend more and borrow more. that is NOT going to happen. The two trillion has come and gone with a spectacular market gain for one year. Imagine the FED dropping rates by 100 basis points just to keep the grave train going? Just to allow profits to catch up to the very optimistic forward earnings projections.

My money is on a huge correction this year. A recovery after? Who know now. Set up is for a big drop however. Looking at my momentum targets.

Till then buy the dips. i can't. I prefer to wait it out without gambling for the more opportunistic reversal points.