Thursday, April 11, 2013

Charts 04-10: Jaws of Death

If wave 1 of the rally since SPX 1343 ran 105 pts up to 1448, then a corresponding 105 pt move from 1485 would target 1590 here.

That and the Jaws of Death are right above us.  An intraday reversal per 2007 would then take us down to the 1560 area.

SPX 04-10

Jaws of Death megaphone

1 comment:

Permabear Doomster said...

A drop into the 600/500s by next Autumn?

That'd be...frankly..shocking to almost everyone, even the deflationary doomer bears - of which I still count myself as one.
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*I will note, Martin Armstrong has a cycle low next Sept/Oct 2014.

I would highly recommend him..see ...

http://armstrongeconomics.com/armstrong_economics_blog/

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Copper remains weak
Oil is weak, but still above support.
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My outlook is that I need to see a hit of the lower bollinger on the monthly charts - currently 1250 or so, before any major doomer count can be taken 'seriously'.

Good wishes..and GOOD charts!