Here's a link to the chart: http://s30.postimg.o..._4_9_16_Alt.jpg
Posted 12 April 2016 - 03:13 PM
There's no such thing as trippple tops or bottoms, so with the price pushing up again against the top channel line, it seemed a pretty sure thing that it was going to breakout upward, and it did. If my fractal count is correct, and wave-i = wave-v, we could see wave-(i) up at 2,160 or so, and higher if it extends... time will tell. For those who follow Bradley dates, it shows a strong directional move until mid-May or so, an inflection from there until early June, then another in July... interesting times!
Edited by tsharp, 12 April 2016 - 03:14 PM.
Posted 13 April 2016 - 03:29 PM
Okay then, the Dow got a closing above 17,846, I think it will close above that mark for the week, but we shall see what transpires until Friday's close...
As for the daily SPX, the fast CCI shows a clearly bullish signal, as we've plowed above the upper DTL and are now ready to move above the +100 line:
The slower CCI signal on the daily SPX is also clearly in bullish mode, above both the zero line and the third DTL... there are a few latent trend lines that will likely cause a pause in price, the the last two DTLs are still quite a way up there, so they may get tagged later in May or July... time will tell:
Posted 14 April 2016 - 07:39 AM
The hourly SPX shows some room to the upside, though also resistance with the price DTL and latent trend lines on the indicator chart, so price action may get choppy between here and 2134.72:
Posted 14 April 2016 - 04:56 PM
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
Posted 15 April 2016 - 03:06 PM
I've been away from my trading set up all day, but with an SPX range of only 6.91 points today, the smallest since the low at 1810, it seems likely that price will get moving in earnest again next week. It appears we've completed a very small wave-i, wave-ii at today's lows, so that would also fit into the scenario of a smallish wave-iii upward going into next Monday... as always, time will tell.
Great weekend to all!
Posted 19 April 2016 - 07:24 AM
By Martin Armstrong's work, the Dow did elect the bullish close, buy closing above the 17,846 level on a weekly basis last week. I wondered when he would follow up on that matter, and he finally addressed it last night. As we know, markets are dynamic, not linear, in their behavior, so never move in a straight line in any direction. I am still torn as to whether this last leg upward will unfold in a diagonal triangle impulsive series or a normal series. If we move directly upward to the SPX 2500 level before a significant pullback, I think I move back into the diagonal camp, and will post an updated weekly chart of that in the near future... and I digress. Here is Martin's take on the Dow: