Also, the McClellan Oscillator was nearly unchanged for the day. A big move is coming soon.
Tuesday, January 15, 2013
Charts 01-15: Very close now
Like to see us pop up to 1476 in the morning before reversing and selling off. The 1576 peak was a spike high reversal that immediately gave back 30 pts. This also keeps us from having a pesky gap up here at the (presumed) top.
Also, the McClellan Oscillator was nearly unchanged for the day. A big move is coming soon.
Also, the McClellan Oscillator was nearly unchanged for the day. A big move is coming soon.
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3 comments:
This E-D wedge looks too steep and constrained -- it may only have about 3 of its 5 waves in, with a pullback for W4, and a final 5th wave rally coming into EOM January.
I'll play with this and see how it affects things. The 2007-2009 "model", carried into the present-day, was wrapping up a bottom in mid-June.
A delay of a couple of weeks on that model would put that first bottom around July 1, which makes sense in terms of seasonal cycles.
FWIW, I moved the projected top on the 2007-2009 repeat model out to January 25, at SPX 1486.
Any pullback we get from this level should be a wave 4 of the E-D-T.
S&P can reach the 400s in late 2014.
Check in with me then. Thanks for posting!
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