NEowave Neutral Triangle
I've inverted the 10/27 date and know how and why. I hope not to make that mistake again.
Stepping back to a multi year view...this rally is getting too strong here which suggests a bearish December which is exactly what the 20 year cycle is saying....
Strong wave D pattern like this suggests neutral triangle...and how the Dragon Head may play out.
November cycles are bullish, so rally may continue into SPX 1310 +/-.
Stepping back to a multi year view...this rally is getting too strong here which suggests a bearish December which is exactly what the 20 year cycle is saying....
Strong wave D pattern like this suggests neutral triangle...and how the Dragon Head may play out.
November cycles are bullish, so rally may continue into SPX 1310 +/-.
posted by chartblog at
2:07 PM
1 Comments:
The SPX chart targeting the low 1300's at the down trend line intersection over the next week along end-of-month window dressesing and the FOMC meeting announcement next Wednesday certainly seems reasonable.
The overbought nature of the market along with the VIX and other volatility indices hitting their lower Bollinger bands (BB) at the same time as indices are either at or outside their upper BB suggests the potential for either a few days of sideways consolidation or another short term pullback.
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