Even Caldaro is leaning bearish…
“This uptrend has clearly stalled even from a wave count perspective. Unless the market breaks out soon, a large pullback or even a 5% correction may be next. Short term support is at SPX 2265 and SPX 2245, with resistance at the 2270 and 2286 pivots”.
What do you think of his work . He is a bear in commodities
I enjoy reading his work; however, I always incorporate classic TA to confirm trading decisions. What I find most useful is Mr. Caldaro’s support/resistance levels on the SPX; these are VERY helpful. Most EW guys are following a large A,B,C correction in gold–next step is 1500 gold, then down to 700…