So far, the S&P is failing near former resistance and areas where it sold off strongly before as large sell orders came in. It's also failing just short of the 3000, round number, area. https://s3-us-west-2.amazonaws.com/maven-user-photos/seanhyman/fundamentals/IOSU6hIfr0e_ddd3b0bprg/E966pY-8dEmYhDPwnSAr8Q
Click on the chart to enlarge it.
I sure do appreciate these charts & the market insights that you provide.
Interesting that the chart shows a new high for the recent 1/3 of the chart, but a higher high is failing below your highlighted band of resistance. Great insight.
I was just listening to a commentary by one of the big banks/investment firms who believes a new market high is just around the corner. I was thinking "Yeah maybe, maybe not". Either way, you've prepared the way pretty darn well.
This is so cool to be watching as a logical investor, not one who is completely emotional. I'd never been introduced to Elliott waves nor charting before your newsletters; what a grand education you've provided.
As one who is rapidly closing in on retirement, you have been a true Godsend to my family & I.
Best Regards, Jon
Sean, your humble approach that you cannot call highs and lows is appreciated, but this this S & P call is as right on as anything you've noted. Very interesting as it's rejected the 3000 level time and again. This feels like we are teetering on the peak of a market, toggling back and forth ever so slightly lower. No one knows the future, but one push seems like all it will take.