From Tuesday’s Blog post:
The four primary US trading indices remain in strong Vertical Development UP. Retracements are short lived and shallow. The Naz 100 / ENQ is “due” to break out of a multi-day Balance Area. There is no reason to believe it won’t be up, so that could be the next catalyst for another wide range up day. A close below Tuesday’s lows by all four indices would suggest the Bull leg may at least pause.
There is no change to that analysis. The S&P / ES, Dow / YM and Russ 2k / TF continue to trade higher. The Naz 100 / ENQ continues to trade in an increasingly mature Balance Area. It seems everyone on the planet is calling for an imminent top. I think an acceleration UP is as likely as the Big Down at this time. My fall-back is to trade Market Structure; therefore I won’t be wrong for long!
