When you compare the past few tops and the TRIN extreme seen this week, especially in the weekly SPX, you could think that we may see an attempt at more rally into May.
But the tide seems to have turned along with the MACD.
I'm thinking that next week may see a full moon bottom before another rally, maybe the last rally attempt.
But will we see another Eclipse inversion (1500 low) May 6th before we see another attempt at 1600?
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&b=5&g=0&i=p06492791666&r=1366427114081.png
Notice the November Eclipse Inversion low:
April 14th:
It must be the Moon: Another pause is due, Francis Bussiere Astro Chart
It is an interesting coincidence that since the November eclipse the new moons have been near tops, but the full moon could only hold it to the bottom of the channel at best.
Francis Bussiere Astro Charts
http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=6&dy=0&id=p63456212491&a=189022404&r=373.png
Watch that Trendline. Not much support down to 1500 if broken.
TRIN looks like price may try to hold around this SPX 50ma area. But it could be like late October and February which saw the same high TRIN reading...a pause only.
Edited by Rogerdodger, 19 April 2013 - 10:43 PM.
