Trust that everyone enjoys the long weekend enjoying the Birth of our Republic.
Question, when is the last time you hear a politician refer to the United States as a Constitutional Republic?
I pledge allegiance to the flag of the United States of America and to the _______ Republic or Democracy for which it stands? We know the answer …
Anyhoo … enjoy the weekend and the amazing country that we live. Be safe out there!
Financials .. the banks lead us UP and the lead us DOWN.
I really have not idea where we are as in a BULL or BEAR market. I am probably the last dude out there thinking we have another wave down coming. I think that for one reason: the Leading Diagonal pattern. The low in October 2022 was either a 1 or an A. If it was an A, then the B wave could go up and make new highs and then a smashing C wave. Else, we are going up in a wave 2 …
How can we figure out where we are going? New highs or another move lower …?
I like to use a PATTERN THAT FAILS or a PATTERN THAT WORKS and here we are .. a VERY NICE GARTLEY SELL PATTERN ON THE BANKS.
IF IT HOLDS AND WORKS AND THE BANKS START DOWN THEN … I suspect a move down will be coming.
IF IT FAILS AND THE BANKS CONTINUE TO GO UP then I think this will add fuel to the upward move.
34-35.66 on the XLF.
One last, note the measured moves …almost all of them (red arrows) are exact. Those that went a little higher were harmonic w/ 1.27 and 1.618 of the measured move.
PAY ATTENTION TO THIS LEVEL ON XLF
