We are still in a 5 year bull market (s&p) that is currently in a trading range based on pnf principles which take time totally out of the equation.
Do you really care, just follow the trend, All you need to do is look at the HH's, HL's or LL's LH's and some TL's. The moment you start having an opinion or start believing this is bullshit or that the market shouldn't be doing something, shut your PC down and get some fresh air.
I think we went into bull mode about 2-3 weeks ago. Doesn't seem like it would have legs but lets see how far it goes! I turned bearish Nov 2006 and bullish in May 2008 for the record, although my indicators are tracking actual stock prices, it sometimes takes time to show up in the indicies (note I called wierd behavior in january 2007 that had been present and a month later we had that big drop on dji)
Pa(b)st. I hope your bond market predictions are equally as accurate as your Obama versus Clinton predictions proved to be.
The correct answer is it should not matter to all you whack-a-mole day traders. It matters to us swing traders, though.
Why not be more specific with your question?. As it is, there are TONS of sectors that have been in BULL MARKETS for quite some time . . . Energy obviously being one of them. Moreover, there are very few people here on ET that understand technical analysis. That's why this thread is a waste of time.
i'm talking about the main indexes i've never understood why people respond to threads they consider to be a waste of time that's what i meant by 'constructive'
Elliott Wave-wise, we are in a "corrective" sequence that will carry the SPX 183 points higher ( or a fibonacci ratio thereof ) from the lows of this week. Ideally, I would have liked to have seen more of a pullback down into the 1365 area, as we could have gone as low as 1339 to provide for a "measured-move" down from the 1440 highs to finish this last little decline before embarking upon this next sequence up ( potentially 183 points ), without having violated anything. Whether we are good to go from here, or we might still have to come down to the 1365 area, this next move up will finish off this entire advance from the March lows before changing trend and falling apart again. The 1550 area is entirely possible on this move, but the minimum objective will be 1483. (.618 x 183). Now, does that help you?