Replies to post #30424 on T/A ETF AND INDEX

[POKERSAM]

berniel - Thanks for the post. It has been said for years that the market looks out 6 months. I can't help but think that is happening now and we get a top soon and fall to a low below 666. I think there are fundamental reasons for this. Not the least of it is the probable coming of massive inflation. I think that is the only way the Gov. can deal with this debt. I don't see how a default can be avoided without it.
Just servicing the debt is horrendous and growing by leaps and bounds. When they cannot do it any longer what will happen?
BUT you have to deal with other realities which could see the bullish scenario play out.
The expected top area has been achieved and the question now is WHAT NOW? Is [IV] over or does it have another down leg. I have thought for years it would have one once the top was reached. The EWP allows for both scenarios at the present time as I discussed earlier. As technicians is would be imprudent to not recognize both possibilities. See Stickies and this chart.
Personal bias does not matter and should not exist. We will know pretty soon. I am continueing to use the bearish count until it becomes evident it is incorrect. It has no bearing on the short term count anyway.