That limit was 1683.63.
The monthly close was 2.1 pts higher.
Once again it confirms that it pays to fade any big price above that.
For August the number is 1736.38 if it wants to go higher.
There has been discussion about Armstrong and I am in the camp of those that fear Aug 8 is a mini crash low perhaps.
As for the Armstrong projection AND presidential cycles that call for a Sep 2015 high, I totally agree.
To add to that scenario, below is an Aussie 10 year bond chart.
The cycles suggest a rate peak in July 2015.
Bet on a Oct 2014 to Aug 2015 market boom I reckon.
