Here is a schematic of George Lindsay's three peaks and a domed house formation. I have been monitoring its development for nearly a year now. I now think that the February top at 1343 in the e-minis (12,391 in the Dow) was point 15, that the subsequent low at 129250 in the e-minis (11,983 in the Dow) was point 16, and that today's high of 1336.50 (overnight) in the e-minis (12,261 in the Dow) is point 17.The strength of the rally from point 16 to today's high, point 17 was enough to convince me that the market is probably in a wide trading range than in a substantial downtrend. I now think the downside in the e-minis is probably 1260-70. Over the next two or three weeks I think points 18, 19, and 20 will develop. This trading range should then be followed by a fast rally to point 23.
