THE DOT - if this turns orange or red be alert

Saturday, April 24, 2010

SPX weekly update

Last weeks reversal did not do trick yet but we have a reliable excuse for the timing matter. We are in a cluster of an Astro pattern which brakes down to 5 events due to technicalities I have explained earlier. The ongoing Uranus Saturn opposition will enter 4th exact position on 26th. The last 3 had all one effect markets rose into this day tolerance about a week and dropped thereafter in the first 2 instances by 25-30% the lat was 15th Sep 09 which had only a 6% decline as a consequence due to the fact that we were in a benign other pattern which is gone now. So its save to say a correction of some sort will follow within a few days adding all the sentiment and the fact that we have reached the 61.8 retracement level and the 200 week MA by challenging the trendline resistance improves the outlook for a bigger correction with 1050-75 is a likely target for the first wave.

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