Fool me once, shame on me. Fool me twice…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p83257770514&a=266398464 The little downwave (or downwavelet) of early September puzzled us somewhat as we took it at first as an a-b-g-z (or a-b-c in Elliott speak) formation.  But then the…

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Head fake…?…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p83257770514&a=266398464 We have often remarked on the tendency of the market to sell off before starting an advance -- like a quarterback throwing a head fake at defensive backs to…

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Paranoid market on a hot tin roof…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p83257770514&a=266398464 While we wait for the market to confirm the breakout of 2000 it would be interesting to assess the present state of the market.  Paranoid cat on a hot…

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