Since the bulls decided to gap over the 1530 spx resistance level the backtest to 1520-1522 isn’t likely now. If there is any backtest at all should only be to the 1530 level, but many times this will keep running higher as it gets fueled by the “buy stops” it’s taking out just above that 1530 level from the shorts.
So this could continue into tomorrow and turn out to be a smaller wave 3 up inside this final 5th wave. That implies that yesterdays chop sideways move was a smaller wave 2 down with the smaller wave 1 starting around the 1490 area from last week.
Thanks Mr. Red and Ali for your post!!
One would have to think….in the longer term…if one has money invested in dividend paying stocks…the dividends maybe the first to go in time?
Its good to see we live in prophetic times. I welcome St Malachy’s vision that the next and final Pope Peter the Roman resides over the destruction of Rome to end this Illuminati madness
Nice post Red. Tesla’s Dad worked at the Vatican. Nicola didnt invent anything. He just copied ancient Atlantean manuscript specs and specs from ETs. The Catholic church have it all in their underground library
S&P 500 Analysis after closing bell: http://niftychartsandpatterns.blogspot.in/2013/03/s-500-analysis-after-closing-bell_6.html
You are right Leopisa… my mistake. Thanks for catching that. I was tired and just added wrong I guess?
I don’t think may 24 is a yearly eleven Red
Since the bulls decided to gap over the 1530 spx resistance level the backtest to 1520-1522 isn’t likely now. If there is any backtest at all should only be to the 1530 level, but many times this will keep running higher as it gets fueled by the “buy stops” it’s taking out just above that 1530 level from the shorts.
So this could continue into tomorrow and turn out to be a smaller wave 3 up inside this final 5th wave. That implies that yesterdays chop sideways move was a smaller wave 2 down with the smaller wave 1 starting around the 1490 area from last week.
As profits goes so will dividends…
Thanks Mr. Red and Ali for your post!!
One would have to think….in the longer term…if one has money invested in dividend paying stocks…the dividends maybe the first to go in time?
APPLE Chart update: http://niftychartsandpatterns.blogspot.in/2013/03/apple-chart-analysis.html
CRUDE Oil chart update: http://niftychartsandpatterns.blogspot.in/2013/03/crude-oil-chart-update.html
Its good to see we live in prophetic times. I welcome St Malachy’s vision that the next and final Pope Peter the Roman resides over the destruction of Rome to end this Illuminati madness
Nice post Red. Tesla’s Dad worked at the Vatican. Nicola didnt invent anything. He just copied ancient Atlantean manuscript specs and specs from ETs. The Catholic church have it all in their underground library