S&P 500 Analysis:
The MOB drawn from the low on Jan 5 for the S&P 500 has a black mark on the left hand side, suggesting it doesn't have enough info to be conclusive. If, on the other hand, you draw a MOB from Nov 30, you get a MOB that was penetrated on Friday. Add in a 200 day simple moving average and one sees that the S&P tested the average, going below it intraday, but closing above. I think that the S&P is looking to finish a wave 4 down, and that the MOB drawn from Nov 30 will hold next week.
After this low is tested a bit in Feb, wave 5 will start, reaching a high of 1500, as indicated by the MOB on the weekly chart, from July 23rd.
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