FX:SPX500 S&P 500 index of US listed shares
7 months ago
22 days ago
Comment: Its going there faster than i thought. Now i think the target is 2500 at 02/03/2018.
Overlay BBs on the monthly period chart, and you may see the lower BB starting to turn down, with this month's candle finally touching the the upper BB. Go back to the two previous peaks ( 2000, 2008) , and you may notice some striking similarities. The " w " bottom pattern on the daily formed from last August looks a sure bet to continue higher with the break above R, however the " w " bottom pattern is now not occuring at the bottom, but rather the top of a 7+ year run.
BBs on monthly squeezed at this minor correction (consolidation) of the beginning of 2016. That didnt happen at 2000 and 2008. For me its a bull flag right there. Dont get emotional; Is not because a big rally happened that other one cant happen next. But its a very long term prediction, by the time it will hit a resolution, we wont remember eachother. I cant even guarantee i will be alive by this time. Cheers. Thank you for comment.
@Real_Risk_On, its going there.