SPX is on key resistance that would hold if the market was left to its own destiny.
But Draghi may unfold his long awaited QE.
If so, SPX may be subject to a forced breakout that may reach 2140 by year end.
That would make the current rally an 18% / 10 Weeks rally - VERY SHORTABLE against May13 Top to top line in logarithmic. It would be a 3% announcement forced excess.
that would "surely" give rise to a decent correction towards 1950 after which SPX may climb more harmoniously to 2220 by Jul15.
This is the bull case.
Note: 1- Draghi may just kick the can and the market may not like it. 2 - Drahi may announce and the market sell the news.
Comments
jangseohee
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I wish Tradingview.com can have quarterly chart feature soon
jangseohee
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No sellers, no one dares to sell and go against "PRINT" button from Fed :-)
YaKa
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On a real top: no seller. It is a process where the last buyer buys...
jangseohee
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LOL, Sir Alexander Elder's "Last fool theory" :-)
dp
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By the way, does anyone know if it's possible to
1. Plot DAX on TradingView
2. Trade DAX on the US market (ETF or anything else)
jangseohee
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DAX futures maybe if not EWG
dp
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Thanks, you saved my life :)
jangseohee
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You're most welcome :-)
jangseohee
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NFP fake data just came out, greatest job gain!
YaKa
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if SP500 closes below 2070 today - i have confirmation news flow action for a short.