Replies to post #7328 on Abet Chichi2 (Chichi2)

[chichi2]

gudgeon7 : $SPX forecast


SPX potential 7-8% retrace to bottom of channel:

The following is a Chi2 chart, i can not duplicate his chart. also, he has an Indicator called Stochastic Momentum (5,3) which is showing a divergence to the Price chart. It is half way down.



The S&P 500 wants to go to 1177-1193 by late Feb
and should hold 1053-54 on any pull back into April.

The final target is 1250 by late April/early May

That would make this a .618 retracement
and snap back perfectly to the uptrend line broken.

The next important lows after late January
and early/mid April would be
early July (or late June) and then mid/late Sept 2004.

August to Sept 2004 may not be kind to the market