If you bring up a chart of the DIA from May of this year on, you will see 3 prior peaks and what looks like the 4th one being right around the corner. You can draw a ruler line right thru those last 3 tops.
The Q's and SPX are pretty darn weak with no indication they will be taking off.
I see you have the low of the next down trend to hit 1714 followed by a low of 1654 at end of November. I don't dispute this and have made an earlier bet when I was sure this thing would turn over. I will say that we have to see decisive weakness from all 3 indices in the next few days. If not than this could just be a rotational shift and higher highs till year end. While I give those odds to be rather small, I can't discount the possibility. Every sharp drop was absorbed within 30 minutes of the drop and strong liquidity pushed them back up.
If I hadn't already placed my bet over a week ago I would have done so tomorrow barring another spike move up. We seem to be very overdue for a minimum 5 percent drop. Deflation is once again surfacing. If China tightens at this time it could have a double whammy affect on our markets.
Stay tuned. I believe we are entering a roller coaster ride between now and end of year.
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