July Positions Report — Essentials

Back in March, we laid out an alternative count that the market could take. In this report, we stated “Alternative (Red) – We have just completed the 2nd leg within a larger B wave (bear market rally). This will lead to the final 3rd leg of the bear market rally, which is targeting +4400 SPX.” This count was based on the fact that the market would shrug off the bank failures and push higher into the 4280 – 4420 region before topping out. The market has now powered into this target region, and even punched through the upper boundary of this target zone, momentarily.

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