Weekly Chart
I just thought I would do an update to where I think we are in the broader markets. 1st I thought I would post this weekly chart so you can see my count as to when the "BIG CRASH" might (might take place). I am thinking not until the next presidential election. That's just a guess. Nothing special about it. But I think the Trump policies, once allowed to happen, will be great and very hyper bullish for the markets. That, combined with the flight capital leaving Europe which will inevitably make it to our markets as Europe implodes will propel the market super high. Who knows, I might be conservative on my chart. Time will tell.
I think this spring we will get that correction that some people have been talking about. But before we do that larger pullback (which would be a wave 2 of the large wave 5) I think we will see the sp500 reach approximately 2500. I do think that we will get a rate hike in March but then, just like last time, we should shoot higher to that 2500 mark. This would encourage the Fed to raise again. The Fed likes to hike if the market shows it can handle it. For example, If we crashed down to 2000 with the March rate hike then I absolutely not believe they would raise again for a long long time because that would show weakness in the market. I will put up the daily next to show what I mean.