Hi everyone

Well here we are many of the indices are at near or all time highs. The TF is at all time highs and the transports as well. I have said this for weeks that we will see 1500 in the very near future, and almost for sure we will overshoot that.  The /ES all time high was 1586.75. Could we double test that? I say it's very possible and soon. The problems with all this is that the bullishness is on everyone's lips.

The VIX is at yearly lows and seems to be heading lower. The complacency is coming though most likely not low enough yet. 

Update I started this last week, but got sick and didn't finish. We saw our 1500 on SpX and very darn close on ES. I don't see anything which points to a large wave down yet, but trust me it will come after the last buyer is standing 

Here is a chart of the ES I did last week

it shows the bull flag and the inverted that is playing out.

This wave 5 should be ending but could take us up to all time highs first. 

xoxo Anna

Hi everyone

I want to wish everyone a "Happy New Year" and send you the warmest of thoughts. 

Things have been very volatile this past December, not the December usual dance. The idiots up in congress are doing nothing but playing stupid mind games and looking out for themselves! I know I know, you say well it's always been that way. Yes! It has, but it never ceases to amaze me how are government is run. Not like a strong efficient business, but a  total joke to us and the rest of the world. I don't expect this to get any better so I will move on.

Right now we are in a wave up looks like a C wave, but with Elliot Wave it's all subjective. We've come really far really fast 1385 to 1463 in just a couple of trading days. Now in my experience in trading with this manipulated tape with HFY they'll take it further than really makes sense. We should be getting some kind of wave down here soon and then maybe a final wave up before the fireworks start.

We have the debt ceiling debate (oh yeah) coming up in a few weeks and I am sure we'll have the same games that we had with the fiscal cliff. No compromise till the last second and the bickering will continue.

Lets look @ the SPX daily chart you can plainly see the inverted Head and Shoulders that played out last week and took us up 5% on the SPX in a few trading days. We are overbought on the stochs and should have some kind of wave down soon, but then i believe we move on up to that 1468ES double top 1474.41 SPX.