Yes this is not a popular view right now, in the Idea Stream (although popular in the room I trade in). My previous chart showed how early in Obama's reign we got a strong, complex wave 2, and this last year we got a wave 4 that is a simple ABC. Everyone here, in Idea Stream thinks we will go down next, and that is Bullish.
We may go down because of recent news, we may go down as I have predicted months ago because summer is known for corrections... But the movements over longer timeframes are Bullish.
I am also long the VIX, and GOLD to save my account if I'm wrong about the Elliot Waves, longterm being Bullish.
We are above all the EMA's and the Ichimoku clouds, breaking through the Bollinger bands in some timeframes.
We may go down because of recent news, we may go down as I have predicted months ago because summer is known for corrections... But the movements over longer timeframes are Bullish.
I am also long the VIX, and GOLD to save my account if I'm wrong about the Elliot Waves, longterm being Bullish.
We are above all the EMA's and the Ichimoku clouds, breaking through the Bollinger bands in some timeframes.
Please check out Kauai Dave Pivot Traders on youtube. www.youtube.com/channel/UCNpY7S_s1cxw0cer4PyEEMQ