This Could Put a Quick Lid on Things

Now, that was a nice rally. Clearly it has already exceeded our upper target by a couple of points, so it makes us question which of the fourth waves is playing out. For now, it seems the E-mini S&P 500 futures could very well be targeting the 1387 area -- the level of the wave (4) of one lesser degree. But will it place the lid on the total fourth wave? That is yet to be determined.

Monday's action clearly opened the door to the purple count in a big way. However, until we see the size of the b-wave pullback, we won't be able to make any broader determinations....228 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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