FX:SPX500 S&P 500 index of US listed shares
The trend line follows the lows in corrections in the late 1990s bubble through the tops in early 2000 and late 2007. Looks like we already hit that peak on April 27 at 2,126. But even that isn’t the most interesting point here. The tops in early 2000, late 2007, and late April 2015… are exactly 392 trading weeks apart.
The S&P failed to close above the trend-line which is now acting as resistance. On the basis of momentum indicator, this is the 3rd time it is going to test the 45Weeks EMA. At the moment the price is still above 9 weeks SMA. The other two times that priced tested the 45WMA, it felt for at least 3 consecutive weeks. Lets see if this is the case for this time too, if affirmative, How many percent, then?