Stocks are heading higher. And I’m seeing the usual nonsense starting. Stocks are not rolling over and heading down to the lows. The S&P is 19 days into its daily cycle and in the timing band for a half cycle low. Watch the RSI when it gets oversold, start buying. (There is even a chance the PPT steps in and halts the correction prematurely).
I’ll point out again that the intermediate trend line has to be broken before the intermediate cycle can have any chance of topping. How many times must traders see this before they catch a clue?