Market Just Refuses To Move

As I said today, the market just seems to be levitating up here.  For some reason, it is just refusing to move, and especially refusing to pullback.

As I noted today, since we are so close to 2410SPX again, it is certainly possible that the market may again attempt to stretch for that region and finally strike it before turning lower.  But, under all circumstances, I am unable to ascertain the applicable count from a high probability perspective until we break below the 2385SPX level, as explained last night.  Should we head higher, that level will likely rise as well.

For now, I have to maintain the primary in green, as explained last night.  But, until we see a pullback, we are somewhat in limbo.  But, I will sound like a broken record yet again, as I think it is wise for MOST people to use any bigger drops for buying opportunities rather than as a shorting opportunity.  Remember, this is still a bull market, and the larger degree higher probability perspective still points us towards 2500SPX in 2017.

1turnchart
1turnchart
Avi Gilburt is founder of ElliottWaveTrader.net.