Tuesday, May 24, 2016

Another good opportunity to wrap it all up

May the pre-holiday week give us the low-volume melt-up we need for new highs.

Bears ... all dead.

Tomorrow we need another day like today, similar to the thrust off the 1810 lows in mid-February, and we can let the trapped, desperate shorts buy this thing all the way up to the top.

SPX 30d

Big picture, first bounce off 1740 SPX on the July Full Moon, opens up 1010 - 1040 SPX in October.


Tuesday, May 3, 2016

Charts 05-03

A light truck crashed into our mailbox today and decapitated a tree-size rhododendron.  Driver and passenger are OK, I believe.

Today looks like we tested the channel wall, one channel at any rate.  Market will need some lift soon to make those new (and final?) highs.

SPX 05-03

Monday, April 25, 2016

Aaaaand ... cue the ending-diagonal

Now is exactly where we would expect to see one.  Waves (i) and (ii) in so far, on the way to new index highs.

SPX 04-25

Of course, we still want to see breadth and volume trail off as the tape grinds higher, into the May 11 turn window.