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Preferred Count Commentary for Tuesday, March 31st: I think Monday was a lot more important than it looked or felt, Gary. (Thanks for your message, btw ... I read with great interest). Anyway, Monday hinted that a solidly bullish foundation is being built beneath the spoos (S&Ps). The prolonged sideways movement will continue, probably to the end of the week. By Friday, the market may be slightly lower than Monday's close. I don't believe any new highs will register this week. Pretty boring, right? It's not. Under the guise of Bull vs. Bear, the spring is coiling, and when it takes off (probably next Monday, but perhaps as early as Friday), it will do so on the underpinnings of this week's "boring" fight between the sellers and the buyers. All week long, the sellers will assume "the big one" is coming. They will increase their short position accordingly. Next week, they will be crushed by the newest chapter of the greatest bull market in history. All imho, of course. My website is at concentric.net ... Here's an 18-minute chart. concentric.net |
