This week felt much more interesting then the flat ending numbers would suggest. But in the end, all
price really did is swap up and down days to keep us on our toes at this important point for near-term
direction. It’s funny; the only time price ever seems to become this indecisive is when the wave pattern
is unclear and we’re waiting for a statement. I don’t think that’s a coincidence. When the pattern
comes to a crossroads, even if it is only a near-term crossroads, the indices know it and a battle ensues.
That’s what’s taking place here. Unfortunately for us, it leaves us at a point where we’re not confident
in what’s going to happen next, and that’s never fun. Fortunately, there are a number of things we do
know. Most importantly, the pattern remains bullish on all larger time frames, regardless of this nearterm
indecisiveness. No matter what happens in the coming sessions, we can confidently expect
higher prices overall because mid and long-term upside patterns are bullish and incomplete. Another
thing we know is that time is on the side of the Bulls. The longer price moves back and forth here, the
more likely it is that the near-term trend will resolve higher. These things, in addition to our key
downside levels, have to be our focus until the near-term pattern is straightened out.
price really did is swap up and down days to keep us on our toes at this important point for near-term
direction. It’s funny; the only time price ever seems to become this indecisive is when the wave pattern
is unclear and we’re waiting for a statement. I don’t think that’s a coincidence. When the pattern
comes to a crossroads, even if it is only a near-term crossroads, the indices know it and a battle ensues.
That’s what’s taking place here. Unfortunately for us, it leaves us at a point where we’re not confident
in what’s going to happen next, and that’s never fun. Fortunately, there are a number of things we do
know. Most importantly, the pattern remains bullish on all larger time frames, regardless of this nearterm
indecisiveness. No matter what happens in the coming sessions, we can confidently expect
higher prices overall because mid and long-term upside patterns are bullish and incomplete. Another
thing we know is that time is on the side of the Bulls. The longer price moves back and forth here, the
more likely it is that the near-term trend will resolve higher. These things, in addition to our key
downside levels, have to be our focus until the near-term pattern is straightened out.
