SP 500 chart update (weekly)
Key levels are NOT always perfect, yet they are quite reliable.
Some of you may be thinking ; "Oh, I see a possible head and shoulder pattern", so if we do see a break down now, it would confirm the "right shoulder" ....
Forget it !
Expect a long sideway pattern, leading to a huge break out above the red arrow in about 3 to 4 months from now.
3 comments:
Wow! Big breakout Up UP Up.
Why are you so Bullish ?
DrBull
I completely agree with this post. Things will be trending sideways for awhile, but then I do think we could see 1,450 this year. Only caveat - geo-political or macro economic blow-up. If the Euro totally collapses or oil goes to US$200 because of Iran, that could throw a spammer in the works despite what the charts may be indicating.
Why bullish? QE3 !!
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