Quote:
Originally Posted by Vanity
Haven't postd here since I last wrote this comment June 24, about an hour after we bounced off 1560 as th level. Don't know if anyone bought in and went long on this call.
Can't decide right now what's going to happen to the markets tomorrow. Seems like we have been holding 1660 on the SPX all day. Mact, it's been a while. How you doing buddy?
Anyone else have a view on what is going to happen ST? I'm thinking we might bounce off 1660 and rally towards 1700. Unclear though about whether we break down first to 1625.
Chinese markets are having a face-ripping rally tonight.
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While I rarely do this, using somewhat of a technical (rather than a fundamental) approach we should, in theory:
1.) Hit 1700 again by early September.
2.) Around October 1st we will see a dip to around 1680.
3.) We should rally for a month to around 1725
4.) Early November see a short pullback to around 1700
5.) Starting Mid November see a strong rally to around 1750.
I say this purely for amusement. This is not a timestamp either.
How I arrived at this conclusion:
1.) Measuring gains losses on 2-week price invervals for the S&P 500
2.) Noting that we have not had two consective 2-week pull backs
3.) Noting that generally those pullbacks have come about 1 month apart
4.) Noting that significant new highs have been reached every 3-4 months