NOT SO FAST, folks,
BE PATIENT, we will get there in MARCH as previously noted
DOES the Sequester and continuing resolution have anything to do with the market action?
YES, and No.
EVENTS FALL INTO PLACE as the market progresses
Human EVENTS do NOT CAUSE stock market movement although it certainly looks that way quite often.
Today's OPEN rally seems to have started Friday at close and may have touched a trend line as shown on the graph below, setting up the NEXT DOWN LEG as indicated on the graphs.
BEST BET FOR GETTING INTO A LONG position looks like it will come on MARCH 5th near the open. CONSIDER that the low of wave (4) thus setting up the next leg wave (5) to 1566 by March 28th.
IVE WRITTEN ALL THIS BEFORE and REPEAT IT AGAIN
exactly What BAD NEWS will accompany this drop off is anybody's guess, but we do know
there are major Congressional interactions due on the 27th. - I'm just guessing as a maybe.
ANYWAY, enuf speculation about events, here are the graphs for this week.