Editor's Note: I will be away in {major U.S. city} at the {financial noun} Show the rest of the week, so Sparky will be doing the update on Wednesday and Friday. See you next Monday!
The wave status remains {descriptive adjective} to us and shows {small integer} waves from the {name of month} low. The market has been in a {uppercase letter} wave pattern with a rare {geometric shape} terminal wave that is in the {superlative adjective} stage of completion (EWT, page {double-digit number}).
The explosive and unprecedented rally from last October is a {three lowercase letters} terminal wave. This is key since {ordinal noun} waves are always ending waves.
Sentiment has reached another extreme with over {high double-digit integer}% of respondents bullish, a level not seen since last {month name}. Measured in "real money" terms, equities have actually been in a bear market since 2000 ("real money" defined as the ratio of the Dow Industrials to the price of {noun of perishable grocery item}).
The rise in {noun: metal} has been a {three hyphen-separated single digits} wave, so it's most likely next move is {directional adjective}, indicative of a {ordinal} of {higher ordinal} wave.
We will keep you apprised as the waves continue to unfold and reveal themselves.
