A visit to the cardiologist resulted in an overnight stay at the hospital. I was experiencing vertigo and the doctors have been trying to pinpoint the source. I may be in for another night, so my email will be brief.

The plunge hasbegun and there is now enough information to identify the pattern. This may be safely called an Intermediate degree Wave (C) of a Primary ‘degree Leading Diagonal Wave [1].

VIX has a slightly different pattern, but compatible with SPX.

The Hi-Lo is back to the Flag formation. This is likely to be no threat to the sell signal. We’ll monitor itfor any changes.

The sell-off in bonds shows where the liquidity for stocks is coming from. The pattern isn’t entirely clear, yet. But this is what we’d expect at this juncture.

The pattern is ripe for a reversal, so we may see the decline in stocks and bond yields begin shortly.

By the way, the neurologist claims that I have “rocks in my head.” There are some little stones in my inner ear that are out of place, causing my dizziness, My wife will probably no let me hear the end of this!

Regards,

Tony

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