MT-
It’s of interest how those formally labeling this rise as a “C” wave have suddenly come around to recognizing it as a 5th. This includes Zoran, the world’s formost “reader.” The “C” wavers disappeared with the last outgoing tide!!!
In Zoran’s defense a 5th wave reading opens the door to the ludicrous notion that we never had a Bear market. Well, we didn’t. Of course telling that to Lucent or JDS holders would be a stretch. IMO the real Bear awaits us at the end of this decade.
But back to Wave 4 which we have decided to embark upon. The central question now is: how will it play out and in what form? Since Friday’s odd-lots were the highest in history AND since the Bullish sentiment is a high steadfast percentage as well, the logic of the market, perverse that it be to frustrate the most, would have us go sideways doing an A-B-C 4th wave correction where A=C. This will negate for the time-being even Zeev’s Queen Victoria’s jubilee, 1877, and on the other side of the spectrum my DOW 12,400.
If we can hold DOW 8500 there’s a good chance that this 5th will be an ascending triangle that will benefit only traders. That’s my read, FWIW.
My only<G> question now is will BLTI crack $15 and shake everyone out. I think so.
Regards
Porter
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