timwest

S&P500 SPY WEEKLY BAR - TIME AT MODE ANALYSIS - PRICE TARGET HIT

AMEX:SPY   SPDR S&P 500
385 0 5
A new mode of 12 weeks (labeled in BLUE) and re-starts the clock from the last 12-week mode that was at 184. We are in the 6th week now and the price forecast was touched last week just over the 196 level. The market is pacing along at the previous "time at mode" buy signals and could reach 200 from another forecast (Green Box).

The longer a market holds a level, in this case 187 across every week of 12 weeks, sets up a new advance once an entire week holds above 187 (the mode). This "grinding" advance is wearing out the bears.

Exactly how to trade this is more of an art than a science: One aggressive method is to exit longs at the top of the blue-box and then sell short and risk 1 ATR and look for a drop back to the MODE at 187.

Tim 195.78 -0.16 last at 1:08PM Monday, June 23, 2014
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