SPX has been on a moonshot, but the put/call ratio has shown there needs to be a correction and that's where we are at. Nasdaq has wave A up in the third wave an ending diagonal, wave B is next. SPX has a clean 5 waves up in wave A or wave i and needs a retrace to 2800-2700 in wave ii or B.
Won't let me post a pic so I'll toss it in the comments
While indicators are still on BUY, there are some ominous charts appearing:
Negative divergences in SPX:VIX
Rydex Bull Funds/Bear Funds
at heights seen on last two peaks:
20 Day Equity Put/Call Ratio depressed:
BPSPX Currently with Negative RSI Divergence:
It is time to be prudent and watch for indications of a market top. Once I believe a top is at hand, and I do think we are close, the indicators on the site will change to sell. I expect the market to bottom sometime in April and end 2020 at 3488-3617.
The reason I never kept this blog up; basically is it's too much time for me to try and relay my tradings while trying to run a business, taking care of two young children (who try my patience by the hour) and satisfying my wife. I trade both short-term and long term so the purpose of this blog will need to be long term since I can't keep up with the short term gyrations. I'm too busy fishing and tubing and playing hide the dinosaur. But it is re-open and the charts will flow.