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.

5minSPX
5minSPX
Avi Gilburt is founder of ElliottWaveTrader.net.


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