Just a few charts hot off the press from our friends at Elliott Wave:

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I’ve been describing this as a “stock picker’s market“. What do I mean by that? Well, here’s one of my portfolio’s at the end of Friday:

Today the /NQ closed up hundreds of points. The /ES and /RTY were both green. So was the /YM. It was a totally bullish day. And yet my 100% short portfolio made money. How?
Because my lovingly-chosen picks defied the market and fell harder than it rose. This also means that on the one or two days a year that the government allows the market to fall, my picks will absolutely scorch the earth.
So that’s what I mean.
After a very quiet period on the economic data front, we’ll be faced with a bunch of market movers next week. The big one is Tuesday morning’s CPI. What will Trump do if inflation comes in hot? I don’t know, I guess fire the people that generated them.

