Since the market likes moving in sixEs, next week will be the sixth and final week of this rally that started November 7th. I believe we will see sideways action the first half of the week then higher prices the second half to close the week before the market goes into long sideways price action lasting 6weeks thereafter. So for next week, expect sideways action from Monday to Wednesday, then a rise on Thursday and Friday to complete the 6-week bull leg. To get a better understanding of what I'm trying to say, see my Rising Wedge on SPX-DAILY I. It will also complete my wave count of SPX-DAILY IV in a nice, proportional and rising wedge manner. Two days of sideways action will not give the proportionality I'm look for in my SPX-DAILY IV wave count. I want to see at least three days to be sure wave 3 is over and wave 4 is in place.
Keep in mind that this is just my opinion. I don't trade my opinion.
INDICES
QQQ-MONTHLY
QQQ-WEEKLY
QQQ-DAILY
SPX-MONTHLY IV
SPX-MONTHLY III
SPX-MONTHLY II
SPX-MONTHLY I
SPX-WEEKLY IV
SPX-WEEKLY III
SPX-WEEKLY II
SPX-WEEKLY I
SPX-DAILY V
SPX-DAILY IV
SPX-DAILY III
SPX-DAILY II
SPX-DAILY I
SPX-60MIN
SPY-15MIN
