The New CS Board

[dindindon]

04/14/15 Setup comparison

12/19/14 02:17:06 PM
"The bounce-off from the low 1972.24 looks more like a capitulatory advance."

“HE rises and begins to round“
- The Lark Ascending, George Meredith (1828–1909)

Well, Index is ‘wandering around’ in the fast few months. "Come So Far Yet Still So Far To Go".

Let's review an old setup:

Feb 6 2012, 03:23 AM
The critical resistance is 1332-1342, one level up to see 1376-1440. second critical resistance is 1440-1450 to see the new high, >1576.

Comments:
The action on 02/06/12 embedded an implication that the index could move up eventually
After 02/06/12, the index crossed over the resistance 1332-1342.

The setup date data:
open 1344.32, High 1344.36, Low 1337.52, close 1344.33.

On 04/02/12, index breached 1422.38 (projection 1376-1440). The action 'obligated' the significance of resistance 1332-1342. Then, on 06/04/12, index did a pullback down to 1266.74 (ratio 0.4472=1/2.236). From there, index breached 1474.51 (projection 1440-1450). On 11/16/12, the second pullback retested the former resistance 1332-1342, session low 1343.35, from that point, SPX moved higher and higher.

Now, from 11/03/14, we have a very similar set up. For easy referencing, i put the corresponding numbers (Prior-set-up)and Current-set-up in the following chart.

Friday, 11/21/14 11:00:28 AM
2130.46 Middle term upper target
2213.50 Long term upper target, [2213.50]-2316.26.

Mark Twain 1835-1910
“By law of periodical repetition, everything which has happened once must happen again and again -- and not capriciously, but at regular periods, and each thing in its own period, not another's and each obeying its own law.”

conclusion:
Index is in a decisional juncture.
Without breaking 2130, it would be bearish for middle term. But, I am keeping the long term target 2213.50 for the moment. Fuzzy, Fork in the Road.

Biggest sand dust in 13 years, Beijing sunlight is so dim
photo: http://i.guancha.cn/news/2015/04/15/20150415211218858.jpg