S&P 500 closed at a new record high of 1,900 on Friday but the volume is the lowest in 2014. There was no mass participation.
My wave count for Dow remained the same, it is forming the mini wave 2 of its wave e of wave (xii).
I am not so worry about wave (xii) correction, my main concern is whether the uptrend since March 2009 will end with wave (xiii).
Nouriel Roubini said, "We're at the very beginning of a credit bubble". And he expect the market to last another 1 to 2 years. (No collapse but as usual there will be corrections)
Marc Faber told CNBC on Thursday, " ...... it could easily drop 10 - 20% ..." and I don't think Marc Faber has ruled out what he has said in April that the 2014 crash will be worst than the Black Monday crash in 1987.
So it is good to be careful when wave (xiii) started to set new highs.
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