We are clearly trading up to the first big target and resistance of the SPX at 850 to complete nwave A up and not as I suggested earlier around the 50day MA.The trading band or chanel is well defined and the price acting speaks volumes. The experiation was used to shake out some longs as the announcement on Monday which was sure to rally the markets is part of this fabricated rally.
As we go into the window dressing period we can expect to test the 850 area the next days before we see wave B down which should give back at least 25% of the almost 200 points up. That should happen early April around the 4th but the real critical time frame is around the 17th when Venus turnes retrogade again as the first one on the 6th of March triggered the rally.
No comments:
Post a Comment