In the middle of the middle….

Posted on Sep 04, 2015 by in Letters

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464

The process of analysis is a constant search for something which is understandable.  Is this the beginning of a serious downtrend or is it an extension of the congestion zone which lasted for 8 or 9 months?  At the moment  it looks like it is in an A-B-C (a-b-g) wave which would argue for an understandable correction, not the beginning of a bear market.  We are in the middle of that pattern in the middle of what might be a zeta wave.  Not to test the low would be bullish as we see it and the gamma wave appears to be arrested.

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