Friday, June 29, 2012

SPX - Decision Time

You simply can't make this stuff up.

SPX is following the exact same path as in 2011 (highlighted by arrows). If the price takes out June 19th high on closing basis, SPX has a chance to break the link. If it rolls over, then 2011 scenario will play out.

Next week is going to be crucial...

click on chart to enlarge

1 comment:

  1. hello. Interesting outlook.

    My first thought though, did you notice IWM/Rus'2000 ? It did break a new high - equivilent to around sp'1375 or so.

    I did check in the 2011 wave, and IWM did NOT break a new high there.

    Clearly, a gap open Monday sp+5/10pts would invalidate that analogue.

    Have a good weekend