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Replies to #9849 on S WAVE CHARTS

snootmagruder

12/31/20 8:11 AM

#9850 RE: RCKS #9849

Happy New Year,

My take: I think we are at or near a top, most indices had triple tops that were recently taken out as expected with one exception, DJA did not and as DJA is similar to NYA in unpredictable, expectations at least in the short term the triple top may or may not get taken out soon or in the future?
http://stockcharts.com/c-sc/sc?s=%24DJA&p=240&st=2009-01-01&en=2021-12-31&i=p04302939509&a=731702306&r=1609420610991
Next is an important index (BKX) for a more clear and simple view of the wave patterns since the 2009 low. I have a very steep and scary drop in store, however the banking sector has a habit of doing that on a regular basis.
http://stockcharts.com/c-sc/sc?s=%24BKX&p=120&st=2009-01-01&en=2021-12-31&i=p61848212725&a=347632796&r=1609419339606
SPX with a few more ranting notes in the chart:
http://stockcharts.com/c-sc/sc?s=%24SPX&p=240&st=2009-01-01&en=2021-12-31&i=p60556405796&a=694736817&r=1609420518469