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Sunday, April 15, 2018 9:54:00 AM
Weekend Analysis by Amateur Investors
By: Amateur Investors | April 14, 2018
The 5 Day Average of the Put to Call Ratio barely reached the key 1.25 level on March 28th (point A )which was followed by a low two trading days later. Although the market has bounced the rally so far has been rather limited.
Meanwhile there are a couple of scearios to watch for in the S&P 500. The first scenario is that the rally from the early April low is just a small "abc" affair. The target for "c" would be just above the 2700 level.
This would then be followed by a retest of the previous low at 2533 or a slightly lower low down to the 2467area. 2467 is the 38.2% Retrace from the most recent high.
The second scenario is that the S&P 500 is developing a complex Triangle pattern. In this scenario, the S&P 500 would rally back to the top of the Triangle near the 2750 level (point D), which would then be followed by another drop back to the lower portion of the Triangle (point E), as the pattern continues to evolve.
http://www.amateur-investors.com/AII_Weekend_AnalysisApril_14_18.htm
• DiscoverGold
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By: Amateur Investors | April 14, 2018
The 5 Day Average of the Put to Call Ratio barely reached the key 1.25 level on March 28th (point A )which was followed by a low two trading days later. Although the market has bounced the rally so far has been rather limited.
Meanwhile there are a couple of scearios to watch for in the S&P 500. The first scenario is that the rally from the early April low is just a small "abc" affair. The target for "c" would be just above the 2700 level.
This would then be followed by a retest of the previous low at 2533 or a slightly lower low down to the 2467area. 2467 is the 38.2% Retrace from the most recent high.
The second scenario is that the S&P 500 is developing a complex Triangle pattern. In this scenario, the S&P 500 would rally back to the top of the Triangle near the 2750 level (point D), which would then be followed by another drop back to the lower portion of the Triangle (point E), as the pattern continues to evolve.
http://www.amateur-investors.com/AII_Weekend_AnalysisApril_14_18.htm
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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