Evening Update: OML - SP500, then it's champagne till 5200
I'm going to start with more of a micro view to show you we are about to bottom.
Now, if you're watching Fast Money on CNBC or Reading Barons, you're not going to agree with a thing I'll write tonight regarding the SP500. But this market rally ship is about to sail. With or without you.
This is my first regular post on the SP500. I plan on doing an evening update Monday through Thursday...and then a weekend update.
Major wave III of 3 completed on January 4th, 2022 and since then we've been consolidating in a wave IV (which is almost done). Wave 5 of C of IV which is my primary count is represented in black arrows. Purple count is my ALT but at this moment still probable.
With OML we should be bottoming in the intermediate term. I don't want to get ahead of myself but the 3950 to 3881 level looks like a high probable area.
Tomorrow is Friday so no evening update. I'll post a weekend update.
Best to All,
Chris
Now, if you're watching Fast Money on CNBC or Reading Barons, you're not going to agree with a thing I'll write tonight regarding the SP500. But this market rally ship is about to sail. With or without you.
This is my first regular post on the SP500. I plan on doing an evening update Monday through Thursday...and then a weekend update.
Major wave III of 3 completed on January 4th, 2022 and since then we've been consolidating in a wave IV (which is almost done). Wave 5 of C of IV which is my primary count is represented in black arrows. Purple count is my ALT but at this moment still probable.
With OML we should be bottoming in the intermediate term. I don't want to get ahead of myself but the 3950 to 3881 level looks like a high probable area.
Tomorrow is Friday so no evening update. I'll post a weekend update.
Best to All,
Chris
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