FX:SPX500 S&P 500 index of US listed shares
Fact: Over the last 15 months, the channel in the chart above is driving SP500 .
In high energy, there has been a few excesses above the top line (maximum 17days and maximum 1.6% above the line)
Given the lower energy prevailing on SP500 , i think the top line is not likely to be breached significantly
- This channel will be broken (sure thing) and this break is much more likely to be to the downside at some point.
- The channel climbs 0.8% per month.
- The time is counted, I would say the rally can last 5more weeks before a decent correction.
Agreed, a long look at the weekly chart shows pain coming for the shorts (myself included). The S&P created a large hammer candle last week and there are a lot of short positions to clear out. The market loves to bring the most pain. Short covering could bring us into the 2200 range. MHO:)
2140 is likely to be reached before 2020. The question is which one of 2140 or 2040 comes first. you keep repeating yourself for a 15pts marginal increase. Who cares? + No need to repeat yourself each time there is a green candle within the range. if you reply to my post, i am likely to read you and if so i would appreciate reading something new and not the same thing 30 times. thx
Not only mother’s day, but May 10th is:
2015 Bradley Bars Turn Dates for the S&P 500 (Bradley Siderograph)
May 10 (31/100 Bradley Siderograph Power; Note that a Declinations Turn Date also occurs on this date with a Bradley Bars Power of 100/100).
May 25 (31/100 Bradley Siderograph Power)
June 8 (28/100 Bradley Siderograph Power)
September 23 (32/100 Bradley Siderograph Power)
October 17 (48/100 Bradley Siderograph Power)
May 10, 2015
In 2014, the bradley siderograph had 2 occurrrences of 100/100 power declinations:
July 23rd : S&P at 1987. August 7th S&P at 1909 (80 point drop)
Dec 17th : S&P at 2012. Up 30 points from previous day. continued to 2090 on Dec 29th.
Declinations and turn dates can go in either direction. Was Friday’s monster move up a precursor of continuation like the Dec 16th to Dec 29th move ?
Or is it a significant short term top like July 23rd.
Some major move is about to occur. Given it took 155 million shares on a lousy job report just to get back to previous resistance on Friday and the VXV/VIN and VXX ratios are back to bearish territory is the reason for my thesis we will see recent lows retested in the coming days.
black line is what I think it will happen, but it could fall anytime from now and early June. It doesn't look like it will be the end of the world for stocks though. Once it goes through a correction, the likely scenario is that it will get back up to the equivalent high or make a new high; however, I strongly believe that we're at the peak cycle. :)