Two weeks ago, biotech was really strong, last week not so much. Last week Transports was strong, maybe this week it won’t be as much. But I will tell you that certain stocks that recently were on the cusp of breaking out, didn’t.
we ended up with the August low we were looking for one week early and a whole bunch of points shy on the VIX. What should we expect this week? More than likely it’s time to consolidate some of the gains we’ve seen ... And wait for more significant time window in October.
Monday ought to be an instrumental day to determine when the low from week 617 is going to confirm. At the moment I am writing this on Sunday night we are exactly 618.5 weeks removed from the Internet bear bottom from October 2002.
Our major hypothesis for this pullback is an inversion into the 618-week window off the bottom of the NASDAQ bubble coming up in the middle of the month. We are coming to week 617 now so the window starts on Monday and runs through the week ...