JamesPowell

Timing not Time is what matters.

FX:SPX500   S&P 500 Index
13
S&P has been in a range since 1997. Range represented by upper and lower green lines. Black dotted lines represent return to the breakout zone. Some play the breakout itself and in 2013 that was a good bet. Obviously 2007 didn't work out so well and neither did 2009. 2013 though there were lots of buyers and if we simply give any credence to the old adage that old resistance becomes new support etc then we all have something to look forward to when S&P returns to the breakout zone. When is this going to happen? Who really knows, could be 2 months could be two years. Bear in mind also the two previous tops back in 2000 and 2007 both took about a year to actually happen and one bloody week does not a top make, not even a bloody month in the case of the S&P. It took what 16 years to get an actual breakout? Even if markets roll over and turn down for us just think of the support area it is coming into. Depending on ones definition of "Crash" i personally don't see this market ever getting below 1400 again in my life time.

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