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Could The Market Actually ... Fall?!
Each of the equity indices look to be in a local topping pattern. The S&P is at the top of a local Wave 5 termination zone; the Russell almost hit a 2.618 local Wave 3 extension last week; and so on. Things might continue to go up this week but a little consolidation at least is probably in order, and technically speaking we would expect to see a local selloff around now. As always, this hasn't happened until it happens so in our work and in staff personal accounts we don't plan to try to second guess this. If a decline sets in we will add to inverse ETF positions; until then, doing nothing.
Let's Get To Work
Note - to open full-page versions of these charts, just click on the chart headings, which are hyperlinks.