Saturday, May 29, 2010

SPX Will Probably Take Out the 1219.80 4-26-10 Cycle High!


SPX (S & P 500, http://bit.ly/i0nsT) Will Probably Take Out the 1219.80 4-26-10 Cycle High!, see the Daily View chart one at http://bit.ly/i0nsT.

Why? Because SPX put in a very bullish very large inverse spike on a bullish white (close above the open) candle on 5-25-10 (1040.78 likely Monthly Cycle Low), see the Daily View chart one at http://bit.ly/i0nsT. Also, the candle that occurred at the 1219.80 4-26-10 cycle high isn't very bearish. Additionally, the volume spikes that occurred at/near recent cycle lows have been very large (approaching the March/April 2009 volume spikes, when prices were generally much lower, making the higher volume much easier/more likely to occur), though it's possible that significant outflows occurred. Another very important factor is that volatility spikes recently (May 6's 20 to 30 minute crash probably set a record for rate of decline (per minute decline)) have been huge (high correlation with fear). Buckle up!
Posted by at
Labels: , , , , , , , , , , , , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)