AI
Saturday, October 17, 2015 4:23:44 AM
Bear market never happened
Repeat of 2014. For the bear to continue we must breach the
SPX monthly EMA20 and then it becomes resistance. Still 2 weeks of
trading but little chance of that.
So what is the most likely and logical thing the market will do.
After the market makes a big move it then has poor energy.
So just like in 2014 we trickle up WITH NO SIGNIFICANT SELLING TILL RSI 70 ON THE WEEKLY.
The RSI 50 on the weekly is very important breaking above it means
a continuation of an uptrend using it as resistance means downtrend begins.
So no one is expecting a slow moving boring trickle up market but
that is what we will get.
That is what these charts are saying.
RUN TO SPX 2050 next week. Then modest pullback.
The lows were tested twice no chance of going back there without
big red candles and big volume.
http://stockcharts.com/h-sc/ui?s=%24SPX&p=W&yr=1&mn=2&dy=0&id=p57715610772
Repeat of 2014. For the bear to continue we must breach the
SPX monthly EMA20 and then it becomes resistance. Still 2 weeks of
trading but little chance of that.
So what is the most likely and logical thing the market will do.
After the market makes a big move it then has poor energy.
So just like in 2014 we trickle up WITH NO SIGNIFICANT SELLING TILL RSI 70 ON THE WEEKLY.
The RSI 50 on the weekly is very important breaking above it means
a continuation of an uptrend using it as resistance means downtrend begins.
So no one is expecting a slow moving boring trickle up market but
that is what we will get.
That is what these charts are saying.
RUN TO SPX 2050 next week. Then modest pullback.
The lows were tested twice no chance of going back there without
big red candles and big volume.
http://stockcharts.com/h-sc/ui?s=%24SPX&p=W&yr=1&mn=2&dy=0&id=p57715610772
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