Mentorship

Mentorship

S&P

24 Nov 2014 ‚óŹ 10:40 AM

The US S&P index is showing a potential repetitive pattern. We will have to see if the development so far is repeated. In 2007 the S&P reacted sharply to the 20 month moving average after 'Bear Sterns' and that pushed the monthly momentum indicator into sell. However the market recovered to a new high afterwards. The long term momentum also had 2 cycles from buy to see with the second one at the top [shown by arrow]. Now in 2014 we again are at the end of the second cycle of the move and momentum went into sell due to the sell off in Oct [caused by Europe/Russia etc], price took support on the 20 month moving average and now is at a new high. If the same pattern is repeating then its time for the final top to be close. We will see if this pattern repeats in totality.

snp241114

Comments (0)

Categories

Latest Articles