TECHNICAL VIEW by Gary Dean: The best pattern structure I have been following changed today-but really didn’t change. I was expecting a small abc pattern up to form a larger wave B. The smaller pattern was eliminated today with the lower low on the SPX-but that also trigger bullish divergences on every time frame.
Sure we could head lower, but there is a big risk of getting caught on the wrong end of a short covering rally that could take the SPX higher than ANYONE is anticipating. We have “Time-Sentiment-and Technicals in place-now we need to see if the market decides to follow suit here.
MARKET TIMING: by Woody Dorsey Declines were ideally due into 2/8ish followed by strength due dates are for members only-join now. Then, there is weakness due into dates are for members only-join now which may be chaotic. So, no easy markets on the horizon. That is still the nominal timing pattern. Nominal means, in name, but not necessarily in reality. My work gives me these timing indications but one always has to interpret the particular situation and the larger degree of timing in order to modulate expectations. Stocks remain very unstable.
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