afternoon rally on the way.., page-64

Mongo

From an EW point of view, this rally does look like a 4th wave with a new leg down to come.

I am still watching the VIX in case it does complete waves D and E of a triangle which would imply a monster and sharp market collapse.

I had always assumed a rally top would be formed at the earliest on Armstrong's April date next year or even Aug/SEp but I am not to sure of anything any more.

McHugh has IMO always had a bearish bias which tends to make him a guru in bear markets but an also ran in bull markets.