S&P500

An update of the daily chart shows the S&P having broken the 100% extension.

Now look to 2016 > 2023 for the 127.2% extension, and, if the bulls get beside themselves, we could even reach the dizzy heights of 2100 and a 161.8% extension, which would signal a 5 way impulse move and possible further heights to come.....

dl.dropboxusercontent.com/u/7238706/US%2...sh%20%28daily%29.png

dl.dropboxusercontent.com/u/7238706/US%2...0Cash%20%281H%29.png

Here's a copy of my hourly chart. Friday saw the completion of a 38.2% retrace of the move to 1,888.60 to possibly complete wave (( b )). If this proves true then I see the next move up going, eventually, to 1,950.00 > 1,990.00, as can be seen in the daily chart below....


dl.dropboxusercontent.com/u/7238706/US%2...20Cash%20%28-%29.png

Hope this is of interest to some: I know many find wave counts etc very boring so just let me know if you'd rather I didn't bother with this type of post

Yardini's Technical Indicators for the S&P - including Put/Call Ratios (for the cool options traders out there )

Nomura's take on the S&P 500 (well, the e-mini anyway!)

The bull flag breakout on the hourly chart is witnessing a small consolidation below 1795. We expect this topside to yield to a breakout today that can target our initial upside projection at 1809.


Channel projection suggests a more robust move to 1818. S/t, 1792 and 1788 represent support today.

More critical to this up move is the old polarity level at 1773. For today channel support surfaces at 1783 but we don’t expect a test of downside as we await a move through 1795.

Levels: Support - 1792, 1788, 1783 Resistance – 1795, 1808, 1818

Chart attached in the form of a PDF.

This looks like the correction is over on the S&P 500. This finished above the short term down trend line. For confirmation this has to finish above 1654.19......Then that could signal a move to the highs and beyond.


dl.dropboxusercontent.com/u/4899609/s%26p5008thjuly.png

dl.dropboxusercontent.com/u/40497882/spx_6june.JPG