If the tooth fairy gives us an equities gap up Monday, we'll keep believing in rally crest soon

The tooth fairy doesn't always grant my wishes but I tried anyway, asking that the SPX close over $1092 and give a moderate gap up Monday for a third wave within the 5th we talked about yesterday and some are showing, starting I think with Tony Caldaro in his update last night. The exact shape of the 5th wave can't be verified yet but should have five internal waves. Which is why we'd like to think we saw its first wave up this morning followed by its second wave pullback to about 1088; then the initial step up to point the way for the third wave to arrive Monday. If this entire small 5th wave becomes a diagonal then its fourth wave will overlap into today's HOD (high of day), will see. Meantime, I sure hope everyone had a good week especially after the game-changing strength Monday-Tuesday.

Here's a story about this tooth fairy: she was in a trading room with a 100% successful trader, and a trader with some wins, some losses. One of them made a great gain swing trading gold. Was it - the tooth fairy? the 100% successful trader? or the partly successful trader? You got it - the latter. Because the first two are figments of our imagination. (Shhhh!- don't tell her yet, since we're hoping for that upside Monday!). Al traders suffer setbacks and losses. So it's just like sports of any sort - cut the losses, focus on process, don't do it unless you can enjoy the game.

So, tooth fairy - we held above SPX 1082 and now over 1092 can consider a B wave rally crest perhaps 1112 to "match" the Fibonacci retraces already done by $RUT, $INDU, $TRAN, QQQQ .... as we also see what gold and the dollar have in mind. Always interesting. So I'm sure it'll be another interesting weekend for review and analysis. Meantime, enjoy your Friday with family and friends!