Market Is Taking A Nap
It almost seems like the market has gone to sleep. And, unfortunately, this inaction does not provide us with any additional information to narrow down our assessments.
So, this is likely the shortest evening update I have ever written. As long as we remain below last week’s high, we still can see a deeper wave 2 retracement. But, should we take out last week’s high, then I will assume we are in wave iii of [3] of 3.