Isn't that bullish?
T-theory has a "T" ending May 6th.
Bradley has a May 4th turn.
SPX RSI 12 is over 70 and one system on my blog says: "Do not buy over 70."
But history shows it can get a bit silly when over 70 on a breakout.
Decisionpoint spotlight chart on 9 month cycles suggests strength through the rest of the year.
Terry Laundry's "T" theory is bullish till late September.
Decision point:
"Assuming that we are beginning a new 9-Month Cycle, and assuming that the bullish configuration (right-hand cresting) persists, it will be about six months or more before the next important price top arrives. Regarding this estimate, I would pencil it in, rather than using chisel in stone."
"T" Theory Update:
As per my recent updates, the very long time span of the current short range T is progressing
in satisfactory fashion for a projected bull run into late 2007. This bullish outlook for the S&P
plotted here also applies to other groups including natural resources and most other sectors, but
usually on a rotating basis. Long time spanning Ts are generally not able to sustain great rates of
appreciation over the very long projected time to their right end date. However over the long period,
equities can make substantial percent gains. This limitation results in some stock sectors
leading while others lag the general market for a while, but not for very long. The leadership is
constantly shifting, but if you are patient, the real use of these Ts is to remind one that the overall
trend will be bullish almost to year end.
Along the way there will be corrections but the basic tenet of my Envelope Theory is, first that
all bullish trends will be confined to the right side of one of these time symmetrical Ts, and second,
the trend can be confirmed as bullish by observing that any and all corrections hold at the 55
day exponential moving average of the S&P 500. This was verified a week and a half ago as the
S&P dip to then rallied off the black line in the chart.
As long as this supporting trend act to hold the up trend then the out look is confirmed as bull
and the T is progressing normally. The end of this short T's run should lead to an important peak
for the long term, so one should make the best of its upside opportunity. Terry Laundry
Edited by Rogerdodger, 21 April 2007 - 01:37 PM.
Very nice post, where you been all this time? 
?
