A slow week awaits as minds turn to Labor Day Weekend and unofficial end of Summer. The Dog Days dwindle as new highs are reached.
I can finally stop writing about new all-time highs now that SPX has checked that box. DJI will follow, as it has throughout. The Wave 5 path followed since February's low has been rewarding with potential for further advance.
This week should be slow, but not necessarily uneventful. Follow through from Friday may tease out further advance, but a large volume of Treasury issuance needs to be paid for first. Friday 8/31/18 is that day, along with the remainder of FRB's QT for August. That drain of funds could tamp down enthusiasm just prior to the long weekend.
Wave 5 still beckons for new highs, so a pullback re-test of old high at 2872 may provide strength for subsequent advance. I don't expect any significant drop as the market ebbs/flows to wave 5's completion in 2018 as shown by Fibonacci targets.
I can finally stop writing about new all-time highs now that SPX has checked that box. DJI will follow, as it has throughout. The Wave 5 path followed since February's low has been rewarding with potential for further advance.
This week should be slow, but not necessarily uneventful. Follow through from Friday may tease out further advance, but a large volume of Treasury issuance needs to be paid for first. Friday 8/31/18 is that day, along with the remainder of FRB's QT for August. That drain of funds could tamp down enthusiasm just prior to the long weekend.
Wave 5 still beckons for new highs, so a pullback re-test of old high at 2872 may provide strength for subsequent advance. I don't expect any significant drop as the market ebbs/flows to wave 5's completion in 2018 as shown by Fibonacci targets.