Saturday, 30 May 2015

S&P

there has been a lot of "struggling"price action to try and overcome the February high. On Tuesday the market broke the bullish rising 2x1 angle  when time had squared price by 50% (305 points/153 days). Since then we have had 3 inside days so the direction of the break above or below Tuesday's candle will be significant and a sustained move below the 2x1 should lead to further weakness.I like that the recent top was 3 months from the high. A break above would be bullish,needless to say.

 On the weekly chart the previous week was a spinning top with a a bearish black candle with LL this week





Kimble has an interesting chart.....there's that number 7 again


3 comments:

  1. Nice site Fibo! I've been following they Murrey Math, more for price than time, but you know both his 16 and 32 day frames are 2 trading days away from major 0/8 time lines. So I think you're right, we may actually see a turn next week. Should be interesting.

    -One Louder

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  2. Thanks OneLouder I have to say as a discouraged bear I sometimes find it takes a little more effort to maintain than used to be the case but Im still trying LoL
    Thanks for the MM time insight

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  3. Apparently it takes a long time time to form a top. I guess it will come when they least expect it.

    -One Louder

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