It's been exactly a month since I took a look at the 1937-1942 analog.
What's discouraging is that this analog, in retrospect, nailed every single turn in the market for two solid years, but the recent surge made have been the equivalent of a fatal knife wound to the analog. Here's the S&P – – point #20 is the aforementioned wound.
Below is the corresponding past…….point #20 was supposed to stop at about the same area as points 16 and 18, which would mean the S&P should have stopped at about 1130. As it is now, it's all the bears can do but pray that the S&P returns to that level, having blasted past it by 120 points and counting.
Could the analog get back on track? Sure it could – – – the entire point in front of #19 might be "POMO elevated". But it's disquieting to see my best friend the analog potentially mortally wounded at this point.
Good night…….
