There are a lot of things going on in the market, which point towards an impending correction. When will this correction start, its anyone's guess. But its not far. And since the market needs to bottom within IPM turn window (dates already emailed to subscribers), the decline should start soon.
From an Elliott Wave perspective, a clear 5-wave rally has been completed or is very close to completion since May 16 bottom. Once this rally is complete, we will see a 3-wave decline. Since recent rally was very sharp, its possible that the decline will be pretty deep. This decline will bring back fear in the market, which has pretty much dissipated over the last 2 weeks.
From a technical perspective, couple of sell signals have been received over the last 2 days. These signals coincide very well with the correction scenario.
From an Elliott Wave perspective, a clear 5-wave rally has been completed or is very close to completion since May 16 bottom. Once this rally is complete, we will see a 3-wave decline. Since recent rally was very sharp, its possible that the decline will be pretty deep. This decline will bring back fear in the market, which has pretty much dissipated over the last 2 weeks.
From a technical perspective, couple of sell signals have been received over the last 2 days. These signals coincide very well with the correction scenario.
Trade Options Matrix 2014 Trade (TOM)
TRADE - 1:
Trade Options Matrix will enter a short on decline below 1951 (SP500) 2602 (GDOW).
Profit objective will be 1-2% decline.
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