The current rally has now reached the previous rally distance
(quite similar in time as well). With the current wave
structure nearing completion combined with extreme overbought
readings (weekly RSI) and daily momentum divergence (RSI and MACD),
we have to be on watch for a pullback fairly soon. The SPX is
currently testing the 1552 pivot range..a clean break above 1560
would point to an extension to the next pivot at 1576 +/- 7
pts.
The short term trend remains to the upside with the current
reversal level now found at 1533.
what is investor sentiment at 2007 top compared to right now ?
according to AAI now more bear than bull. could have more upside.
stay long. what is the mechanical system signal. did it sell out at
the end of Feb. ? when it turn to buy ? It got shell out.
please advise.
SPX Daily Symmetry View
Posted by steve on 9th of Mar 2013 at 01:49 pm
$SPX - Chart Link
The current rally has now reached the previous rally distance (quite similar in time as well). With the current wave structure nearing completion combined with extreme overbought readings (weekly RSI) and daily momentum divergence (RSI and MACD), we have to be on watch for a pullback fairly soon. The SPX is currently testing the 1552 pivot range..a clean break above 1560 would point to an extension to the next pivot at 1576 +/- 7 pts.
The short term trend remains to the upside with the current reversal level now found at 1533.
sentiment at 2007 top
Posted by bpt2013 on 9th of Mar 2013 at 06:09 pm
what is investor sentiment at 2007 top compared to right now ? according to AAI now more bear than bull. could have more upside. stay long. what is the mechanical system signal. did it sell out at the end of Feb. ? when it turn to buy ? It got shell out. please advise.
interesting chart Steve, thanks. It would
Posted by muslhead on 9th of Mar 2013 at 03:30 pm
interesting chart Steve, thanks.
It would be so easy if analogs and symmetry held true :-)