Saturday, March 23, 2013

Update SPX - Mar23, 2013

As I have pointed out multiple times the past couple of weeks - up trending markets tend to have shorter cycles that are right translated (larger/longer up legs).  This is what we've seen since mid November, but it appears the shorter cycles are becoming a bit more symetrical which is expected as the up trend tops and turns.

Still we expect a cycle bottom by or before mid-April.  The expected downside is about 80 points from the top (1560 - 80 = 1480) , but possibly less as not all the shorter cycles are set to bottom at the same point.  Here are a couple of views (longer and shorter):

GL traders

3/25/ 11:00 am update ...

3/26 10:45 am update:

3/27 10:45 am update

1 comment:

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