but confirmations remain incomplete, for me.
One fly in the ointment is that at higher degree, my ROC type tools are pointing up still.
Anyone who uses these likes to see ROC momentum AT LEAST roll over, if not make considerable headway toward zero.
Neither SPX nor GDX is doing that. And essentially they can’t even do that until the new year.
It was observations like these that led me to the “To B wave” post awhile back in late Nov.
So while the bears are looking for new lows DIRECTLY, ROC metrics suggest a up (now done) b down underway, then c up to finish B waves in 23Q1.
Bottom line .. play for the bear but defend against the B wave call, if we fail to accelerate.