Bull Markets Are Boring

When we see the market gap up and simply grind on from there, that is typical bull market action.  When we see the market gap up and the bulls do not give an inch, that is typical bull market action.  And, when we see the market just bore us as it continues to grind away, well, that is also typical bull market action.

I said this months ago, but it is worth repeating.  I think 2020 and 2021 are going to see the same type of action we saw in 2016-2017.  And, if you remember 2017, it was a year of simply grinding higher during a 3rd wave, albeit a lower degree 3rd wave.

So, boring is going to be good for the bulls.  

Other than that, there is no much more to add.  As long as we remain over 4040SPX, my next minimum upside target is the 4150SPX.  Should we get to the 4150SPX region, then we will move our support up to 4070SPX.  

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Avi Gilburt is founder of ElliottWaveTrader.net.