"a normalization effort is going to then basically expose that the stock market is roughly overvalued by 100%"
"100%, yes. I actually think the case is a little bit harsher than that; in fact, quite a bit harsher than that."and I'm not about to move that target box I've had here for a few years now -
As a matter of fact most know that I think there is a high degree of probability that the market after the next crash may either not exist or survive as something that does not remotely resemble what we have today. Like what we play in today resembles anything from the past anyway .....
On to the lie -
Pre Veterans Day lull? This is not a holiday one would think this administration recognizes (for numerous reasons they have proven - thus no ramp). Right now the charts look to me like a potential large rising wedge where the lower support diagonal has not been set or realized at this time. The A, B and C points are in but the D and E points still remain to evolve.
This thought works with counts and other thoughts of a correction to come and then a move higher. This setup would work well with an anticipated Xmas ramp and then plummet later, possibly in January (which is what I've been thinking for some time). The catalysts starting in January under the new Congress will be many (not like there are not tens of catalysts in existence already).
SPX 60m - The blue rising wedge is kinda what I think we may be looking at. All ST charts a re primed for a move south.
More to come below.
Have a good day.
GL and GB!