As luck would have it, my red 2 count above wasn't quite the bottom in terms of time but pretty close to it in terms of price. But before I get too excited about this count we need to see a higher high. A DDT here could mean that the move from red 2 is a 3 wave affair.
If we get higher interest rates I do think that the stock market is going to suffer in a significant way not only because of the effect on the massive margin debt that is out there but also because a rate move that precedes a fed funds rate move is how the market registers a vote of no confidence in the con woman, Janet Yellen.
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