Terry Laundry posted an update tonight at his http://www.ttheory.com site - here's what he's saying, but go there to review his charts and (re)listen to his audio for context:
Update for Wednesday evening Oct 14; Todays strong gain meets nearly all the peak requirements for the ABCD T construction on a closing basis. The date is within range and the market is at token new highs above the Mystery T's mid September peak. The closing S&P is just shy of the upper envelop target level of 1106 but that might be reached tomorrow. The very short term T on Sunday can have its center date more later by one day so it is possible we have seen the momentum peak today and the upside strength will rapidly dissipate.
I had technical difficulty adding my McClellan chart for this post. Trust me, it shows negative divergence compared to today's price rise.
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