I see a wave coming...and its a wave of ridicule.... But ok, sure why? Please elaborate.... B/c I am so confused on the reason anyone would state that.
Here is an interesting chart for Elliott students. Dow INDU/Monthly from Advanced Get. Notice the 5th wave (5) of a 5th wave (5) of a 5th wave (v).
Iâm not really a good market predictor, as it shall do what it does. I do however notice a negative divergence in stocks making new 40-day highs. This chart shows the green line showing the divergence. Yellow is S&P500 and Red is just the RS of the 40. It does flag a caution signal to me and has me in a more defensive position as far as entering longs. I do like to see a flush out as back in March before getting aggressive. Not sure thus far if this dip is a buying opportunity and will remain in cautious stance.