Runaway bull?

Coming off a highly erratic two-week period, with certain indices revisiting old territory, and others moving into uncharted waters, one must conclude that the financial sphere is obviously a bit insecure here.

Is a runaway bull upon us, or is this a last thrash of erratic house cleaning by the shopkeepers? In due course, we shall know whether this bull has legs, or if it is a mere fish-out-of-water ??� in the throws of its last rally spasms toward sheer exhaustion.

Such volatile behavior also begs the question; how is it remotely possible that markets ???are always right??? when they display day-to-day behavior that clearly suggests they are flat-out wrong, outright deceptive, or at best - largely confused as to their general intent, direction, and metrics of valuation?

Speaking of revisiting old-territory, after spending the past eight-years in previously uncharted territory, (the Gold Coast of southern California) Elliott Wave Technology will be moving operations across-country, back to its territory of origin ??� New England ??� home of the hedge funds.

Just beyond the borders of NYC, some 45-minutes from Wall Street, and about 15-minutes from the Greenwich, CT estate of the infamous Paul Tudor Jones, we will be setting up shop over the Labor Day Holiday.

Traversing freely between America??�s wealthiest coasts is a distinct privilege, and in this case, one of duty and honor to family. Typical of baby-boomer demographics, circumstance has arrived in which a remaining parent (Happy Fathers Day Pop!) requires honorable attention and dutiful presence.

During transition, our regular service publications will continue unabated. Further, we shall make every effort to continue providing general readers with condensed versions of our regular market commentaries until we are settled.

The June 10, Volume 3, of our Index Traders Edge included the regular feature in which we highlight specific forecasting results and trading points extracted from our Near Term Outlook publication. We will temporarily omit this segment due to the time constraints surrounding our imminent transition.

Rest assured however, that across all time frames, our methodologies continue to perform brilliantly! We shall resume inclusion of this feature highlight just as soon as time permits.

That said ??� let??�s see how the major indices faired last week, and what might be in store for the week ahead.