SPX is done with wave B in a zigzag consolidation pattern and about to break the 1175 support which will be followed by a sell off to the 1150 level. We could even reach the 1130 level by testing the 200 day MA within the next 2 weeks but that should mark the low of wave 4 down by mid Dec and be followed by a final rally of wave 5 up with new highs for the SPX into the 1250-70 area. More on that as soon as the lows are in which should be early next week. The crossover of MACD below 0 level confirms the start of the next wave down as it did on prior occasions ( study chart). Little chance for even a flash crash the next days from an astro point of view as Mars squares an next day stationary Uranus we can expect quite some volatility.
Tuesday, November 30, 2010
SPX update
SPX is done with wave B in a zigzag consolidation pattern and about to break the 1175 support which will be followed by a sell off to the 1150 level. We could even reach the 1130 level by testing the 200 day MA within the next 2 weeks but that should mark the low of wave 4 down by mid Dec and be followed by a final rally of wave 5 up with new highs for the SPX into the 1250-70 area. More on that as soon as the lows are in which should be early next week. The crossover of MACD below 0 level confirms the start of the next wave down as it did on prior occasions ( study chart). Little chance for even a flash crash the next days from an astro point of view as Mars squares an next day stationary Uranus we can expect quite some volatility.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment