$SPY, /ES... looking to 2018 with some ideas.

Just taking a stab here, looking at the weekly S&P chart from the election.  I've drawn this multiple ways, but i think this one is what i'm currently settling on.  Technically i think i could have drawn the wave starting from 2016, but we'll go with this for now.  If wave 1 and 2 are correct, wave 2 was a small 23% correction.  that will put wave 4 in a more violent correction, closer to the 50% or 61% fib line i think. 

where is the top for 3 though? near 2740 looks right, some time after the new year.  that top (dotted) trend line is there, so a touch of it could send us down.  looking at potentially finishing out the down trend near the end of feb, near 2474.  that *might* line up with the 50ma at the time; also the lower dotted trendline.  all speculation of course, anything could happen.  i still think energy stocks are the current play, with $MRO being a clear winner buying under $15 and hitting the $17's now.  my $PE trade was a little early, but it pulled out a winner too.  

watch for bio stocks early in the year as well, maybe even small names that could be up for buyouts.  Also, having just picked up an oculus rift and loving the VR space, keep watch on related tickers in that field next year (like $VUZI - AR glasses).  Overall bullish next year, but we'll see a correction sooner or later.  buy the dip for sure.  

Happy Holidays to all the readers out there!  If you get something out of this blog, i'd love to hear it.  Send a tweet or comment below.  

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