Update: Extreme Bull Scenario

Just an update on the Extreme Bull Scenario. Extreme Bull Scenario Post, February 13, 2014. We still need to break the highs in SPX, though we did break the high already this week in SPY (by a fraction).   There is no certainty this will play out, of course, but here are the breakout targets and rough cycles: I don't completely trust this Scenario because it goes against cycles, seasonal cycles, and other analogs, as was noted when it was first posted. However, with the hold of that 1825 support this morning, which was discussed on Wednesday, price continues to act like this scenario. In fact, that scenario required that move, which was why I was watching today for a break of short term resistance to confirm that 1825 was likely going to hold. Accordingly, I will respect price until it stops doing bullish things. Until we trade below 1825, I am not going to ponder the alternate scenarios.   There is a chance a big down wave setup could be built here, and I am monitoring it, but right now I am personally not there on the setup. Others may already be there. I don't know. So, I continue to follow the Extreme Bull Scenario until it gets taken away. There is always a bear path and a bull path. We cannot know which path our future will choose. As always, do your own due diligence, read the disclaimer, and make your own investment decisions. Peace, Om, SoulJester