Market conditions continue to lend favorability to the Bulls. The sideways movement of the SPY is giving most oscillators time to reset without a significant reduction in overall price. Even though my short term outlook is bullish, as well as medium term, I encourage readers to visit the blog "The Elliot Wave Lives On."
Click here. This is a daily read for me and this weekend's update is particularly interesting. The bottom line is that they think we are close to a longer term top and are projecting it may materialize within the next month or so. As such, it is probably wise to begin formulating a gameplan for a bearish medium term market.
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