Wave structures also look more like a B bounce. Maybe we will make a complex bottom into July.

Looking at the wave structures of S&P futures - This pullback could even be a b of B. Anyways, this recent pullback is too short in time and failed to wash out excessive bullish sentiment so there maybe more pullback/consolidations.

Hi Matt/steve, is today highly likely to be a trend day?

Also a vix buy signal confirmed - closed below upper BB last Friday and closed lower today. 

Yea. In the investment advice business, there are just too many shitty products that you can pay to lose money. The service quality here definitely worth the price.

QQQ made a new all time closing high:)

We are another 1 or 2 up days away from a new all time high in NYAD and OBV of SPX lol. 

Discussed the similar topic with Matt here the other day.

Three consecutive days above 200 day SMA (three days rule for breakout confirmation) and week/month close above it.

Trump's speech not as negative as ppl thought, just my guess

Yea, perfect bounce on positive MACD divergence. The correction on 5 min charts looks like 5 wave to me, could be some degree of A wave down?

That's a long trade?

Thanks Matt. All indicators/models could fail so will be very interesting to see how things play out.

Hey Matt, some of the breath indicators I use ($SPXA50R, AD lines) are at levels that bear market rallies and counter trend rallies in strong corrections almost never reached in the past decades. The $SPXA200R could get there soon. So are my accumulation models for NDX and some sectors. We could still see 10ish% pullbacks but my models seem to lean to your wave 1 and then wave 2 correction scenario.

Thanks Matt. So what range will be strong enough of a gap but not too strong? Becasue last week Monday's gap was similar size but able to trend most of the day. 

Hey Matt, another thing I am watching is the weekly MACD golden cross triggered last week I believe. On NDX it triggered ~3 weeks ago and on $SOX I believe it was 2 weeks ago. I am not sure whether you guys uses that signal, but I went through these signals over last 20 years and it seems like the market went up at least 2~3 weeks after almost every sucn signal. 

Yea. Laggers are catching up. 

By the way, if the futures stay around the current level, should we buy at the open tomorrow and stick with our trend day game plan? Thanks again.

Happy belated birthday Matt. Thank you for all the work you've done. I really like the money supply data you put in this newsletter. A lot of times, I found SPX:M2 or SPX:GOLD ratio to be more useful on longer term wave analysis. The Fed can pump the S&P 500 to any level they want, just a matter of how much liquidity is injected and whether the side effects can be tolerated. 

Exactly... Many of those people had been predicting a crash everyday thounsands of times and finally they were correct once lol