weekend…extra…plus new charts

Good news! I can count 5 waves up in the SPX (from 10/20) and DOW (from 10/21) on the 15 minute charts (posted). They were both heavily corrected wednesday/thursday, as the selling aligned with the correction in the NAZ’s first 5 waves up from the 10/13 low. We should witness an acceleration to the upside this week in all three indices. If not, we’re probably dealing with another 5-3-5 corrective rally. I’ve revamped the entire charting section. Check them out. I’ll be using this charting format from now on out, full of clear signals.
I’m seeing a myriad of bullish technical signals just about everywhere I look: p/c ratios, vix, advisor sentiment, strong commercial buying, recent oversold levels that have indicated intermediate term bottoms, 3-year uptrend lines that have recently been touched, possibly a completion of the base building process in the SPX/DOW similar to Apr 2005, a potential washout gap down selloff in the SOX index, and five waves up in the NAZ/SPX/DOW from recent lows.

You be the judge!
FWIW: it’s looks like pretty impressive evidence for the bull market to resume… Still bullish! 

About tony caldaro

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