S&P Midcap E-Mini Record Highs

We have multiple tops in a few of the index charts, which will take time for me to sort out. I’m trying an expanded pattern which would crash right to my Primary degree “B” wave that I need. I still feel that we will get flats for most of the stock markets correction, but that can always lead in with an Intermediate degree expanded zigzag. A long tail will look like 1929 once it has completed. Better put on some Gerry Rafferty music and let that saxophone wail!  It could be a long hot summer bear market that few expect.  I will also have to check for a missed expanded top which could contain a triangle in the “B”. You can see how crazy a wave count can be when we have an expanded pattern, inside a diagonal bull market.  Most of the time we will get a long tail from the “C5” wave looking like a “crash”.

You can see that the 50-day MA and the 200-day MA are very close and it will take nothing for the 200-day to get cut, and bingo we are in Death Cross territory. I would never want to get caught sitting with a bullish position on top of a Death Cross including all the commodities I cover. It’s like you and friends are all on the deck knocking back some cool Red Stripe and some little market gremlin is cutting the 6×6 posts that supports the entire structure. This is the third big stock market crash I have counted out, and it will be worse than the others as we are starting a Cycle degree bear market.  We will get a big bear market rally which will get completely retraced, so don’t get caught in some fake bull market.

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