Z wave underway?

Posted on Jun 17, 2015 by in Letters

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=3&dy=0&id=p76611673066&a=266398464

It appears that the gamma wave was arrested 3 days ago by the long range day which threatened to blow the market away, then recovered over half the range by day's end.  This is a bullish event.  And kicks off what appears to be the zeta wave.  Today, in keeping with the contrarian controlled market we are in a sharp sell off occcurred and the market transversed a large range.  Candlestick analysts identify this formation as a spinning top and  characterize it as a formation of indecision.  This is not particularly positive for the z wave, leaving the next few days to confirm or deny the z wave.

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