The adjustment: - Given the rally in Europe that shall mark a new significant top before year end, it is likely that the flatness in sp500 will last a bit longer until 2016.
Fact: - The 2009 Rally Cone is still intact.
My views/conclusions: - The top bold grey line shall retain the market. - By induction, the cone shall be broken soon. - 1900 will probably retain for a while (that still provides a 10% correction) - 2200 should retain end of this summer. - The amplitude of the moves could narrow down until Feb16 (the market being supported until then).
Comments
jangseohee
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go ahead and mock at me, my view on SPX has not changed though it might take longer
YaKa
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Very Good Chart Jangse
jangseohee
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Yaka, i think i am the only one who is still hanging on the concept of Megaphone :-)
YaKa
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It will probably not fall to the bottom of it but the top part is relevant whatever the path.