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...
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hello. Interesting outlook.
ReplyDeleteMy 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