The New CS Board

[dindindon]

05/30/15 weekly report

review:

05/23/15 04:47:04 PM

To be short term bullish, depends on whether it will break 2130.46 decisively (2137.74)

SPX Short term low targets
2119, 2109, 2105
2098, 2076

EDIT: see table in chart 1

 
 - SPX surmounted the long-posted target 2130.46 
   but reversed from the middle way of 2130.46 & 
   2137.74 (mean 2134.10, actual 2134.72). 
   The pullback hit one of the projection 2098 
   (actual 2099.18). 
  
 - SPX diagonal pattern is not complete.  
   But, it could break down in the next few 
   weeks or extend higher on any positive news. 
  
 - Chart 3 gives the intrady view. Index moved 
   between Fib Points. Breaking below 2104.97 
   has the better odd to test 2098.28 or even 
   lower numbers. 
  
 Summary: 
  
 (1) Long term target - pending  
 (2) Middle term target 2213.50  
     Gauge 2157.33-2167.53 to see 2213.50  
 (3) SPX Short term high targets: 2137.74, 2141.14, 2148.70  
 (4) SPX Short term low targets:  
     based on retracement – 2098.42, 2075.96  
     based on local wave  – 2098.28, 2090.68,  2077.10 
 (5) The significance of 2076 (2075.96): 
     see this report (click) 
 (6) imho: Pullback below 1976 +/- is the 
     confirmation we may not see 2213.50 
     for a quite long time.

chart 1, 1976 +/- is the critical support


chart 2, 1560.33 is the root, wave count is omitted intentionally (not useful)


chart 3