They try to make me go bullish, I rejected “NO! NO!”
I mentioned in yesterday’s intraday analysis I was wrong when the previous high 930 is taken out. I did not expect the wave get extended here. But, do not take me wrong. I am not yielding to bulls yet. No way this is the begin of the new bull market as the Cramers talked about. Also I doubt seriously whether 1000 will be touched in the upward move. My take is below, let next 10 days tell the truth… 5th wave could be truncated or popped out.
Ever since this bear market kicks off in 2007, financial lead. check the charts below, green line is the top for financials and blue is for SP500. Though major index has made new high in past few days, financials still lag behind. Does this hint for something?… just for your reference
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