Well, I’m posting tonight because perhaps we have a significant day. As you can see from my post a month ago, I was anticipating a new all-time high and that has occurred in many indices including the DJIA and the Global Dow for instance. But the SPX has come up about 20 points shy of a new intraday high.
CONCLUSION:
The wave structure is sufficiently developed to consider a top is in and that the final 5 subwaves have unfolded. However, there is certainly alternate wave options to continue higher. I will say this: If the wave structure is not complete, it is likely going to take a few more months to do so. This is partly why I haven’t posted much. The market has become boring. Yet at the same time, the recent sudden and historic VIX spike in August should be concerning to bulls. The market is just looking for a reason to throw up and dump for good.