Geometric Thinking Update
By Jim Fredrickson
We can’t help but notice that this rally feels a whole lot like an impulse wave, leading us to realize that the bear market may have ended at the 3/17 EP.
This comes as a huge surprise, if true, as it seems so hard to believe that so much new money is going to come to the market now, when so many millions are now unemployed. Where is the money coming from?
However, no one ever said the market is rational…
In any event, we are starting to suspect that it is time to consider changing gears from looking for short opportunities, to long.
However, the wave count does not show a clear 5 waves up, so it is a bit early to state that the bear is dead with certainty. We are looking for confirmation, which may come soon. We will see….
“no one ever said the market is rational….”
This is not financial advice, just words of wisdom from someone who has seen it all over the past few decades. Do with it what you will. Happy Trading!