xjo hctv presents early opener monday, page-6

Great opener Disco.

Been giving the market some serious thought over the weekend – as we all tend to do – but what is interesting is that the Elliotticians have become very quiet recently. This is mainly because many of the “big names” have been bearish convinced of the dreaded C wave so they have taken a dreadful battering over recent months.

Admittedly this move up has been very hard to read under strict Elliott rules. However, even though the SPX has got up into my target box, and so many indicators are overbought, I am wondering if the little correction over the past few days might in fact just be a little wave 4 and we still have a little wave 5 up before we get a more sustained correction. To keep my most bullish Elliott map alive, I would not like to see the correction – when it does eventually show itself - not go below 1267, the top of the previous Wave 1.

My next timing line is 6th February – plus or minus one day. I had thought that would be a low but seem to be running out of time for that to occur.