If we weren’t right on top of the 610 window I wouldn’t be so concerned. But I did tell you I expected a short but intense selling period last week and its exactly what we got. At the end of the day, the smartest people in the room probably were right. The US need not have defaulted since the problem was political one this time. The bottom line is we are at the high end of the range with a key window coming due within days. Once we get beyond this crisis we’ll be in a much better position to figure out market prospects. But be warned we are coming into the window on a narrowing advance.
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Jeff Greenblatt is the author of Breakthrough Strategies For Predicting Any Market, editor of the Fibonacci Forecaster, director of Lucas Wave International, LLC. and a private trader for the past eight years.
Lucas Wave International (https://www.lucaswaveinternational.com) provides forecasts of financial markets via the Fibonacci Forecaster and other reports. The company provides coaching/seminars to teach traders around the world about this cutting edge methodology.