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Sunday, August 05, 2018 11:49:36 AM
Market Weekend Update - Short Term
By: Tony Caldaro | August 4, 2018
With a third wave underway in this Intermediate wave v uptrend, we should be looking for a potential bull market top soon. Should. The SPX would reach the minimum for a bull market high at 2873, it’s all-time high. But the DOW, NYSE and DJW indices all need to make new highs before they complete their bull markets. Each of these indices are 4% to 6% from their January high. This suggests the SPX will rise a lot more than just 1% before its bull market completes. Four percent, five percent, possibly six percent higher. Our target remains SPX 3000+ by 2018+.
Short term support is at the 2835 and 2798 pivots, with resistance at the 2858 and 2884 pivots. Short term momentum ended the week overbought. Best to your trading!
>>> Read More…
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By: Tony Caldaro | August 4, 2018
With a third wave underway in this Intermediate wave v uptrend, we should be looking for a potential bull market top soon. Should. The SPX would reach the minimum for a bull market high at 2873, it’s all-time high. But the DOW, NYSE and DJW indices all need to make new highs before they complete their bull markets. Each of these indices are 4% to 6% from their January high. This suggests the SPX will rise a lot more than just 1% before its bull market completes. Four percent, five percent, possibly six percent higher. Our target remains SPX 3000+ by 2018+.
Short term support is at the 2835 and 2798 pivots, with resistance at the 2858 and 2884 pivots. Short term momentum ended the week overbought. Best to your trading!
>>> Read More…
• 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!
• DiscoverGold
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