Mentorship

Mentorship

S&P on the line

5 Jan 2016 ‚óŹ 05:51 AM

The S&P is up and down a lot lately but overall it is in the same range and just going back to the lower end of a channel trendline that encompasses what might be a wave B formation. Remember that at the 14-12 low I thought wave B was over and C up started, and we did get a rally. But now prices are back down. so mostly wave E of B is still forming. The lower line is at 1977 and as long as we close above that this is the best case. Below it we would have to think about the US stock market collapse coming back at us. Recently sentiment on US indices was in single digits so I wonder if things will get worse without a rebound first. Watch this level for clues.

snp050116

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