Possibly charting breakout of channel and recovery of correctionExtreme bullishness prevails. Vix- dropping off to almost nothing.
What looks like a tiny Elliott wave 2 formed Friday AM but quickly dissolved into bullish enthusiasm.
If this is the breakout move gathering strength, then the chart shows a possible course. I believe we may have entered minor wave 3 of the V(v) 5th wave already ('third-in-fifth wave').
I lost some bank shorting into the countertrend wave today then was horrified to see the Bulls stampede up to 25740 before settling back. I do NOT recommend shorting anytime soon! Any pullbacks now will be brief and slight, no way to gain anything and all risk. Go long! Purchased Dow index calls on the slight pullback in late afternoon.
Futures bulled higher after the close and I expect higher still Monday. I would not be surprised to see another 300-point gainer. Expect the SPX to break 3000 on this runup, by November or sooner.
As always, this is not investment advice and all comments are only intended for education and amusement. Good luck!
