Or at least delayed!
I suspect we will get a new relative high in EWP now as we are very close. The S&P and dow and nasdaq are breaking to relative highs as well. Even though things may appear to be extended, I wouldn’t bet against the market here. You may proceed. So the warning is cancelled unless we close below the highs and then later close below the pattern’s low. That doesn’t mean we still can’t top later, or that this may not give a breakdown or topping signal in the future more credibility, but for the time being all signs are positive. TLT showing a bear flag rather than a tradable bottom (even though it is oversold). FCX breaking out and copper really moving. Gold and Silver ripping to the upside. All signs for the time being are positive again.
One Response to Mild Correction Cancelled!
we didn’t get a new high in EWP. Looks like mini correction is still in play.