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Hi, Also what I noted in SPX is it's a perfect 61.8 FIB entrancement from 1955 level.Looking at Strength of RUT today, do you see this rally breaking down to 1900's really?
Re SPX, is it time to draw a downtrend line from the peaks on 9 & 12 June? If so, it has moved quite nicely above it, is treating it as support, and is confirming the orange uptrend, even if there could be a correction in the very ST (see attached). Btw, the greed indicator from CNN I mentioned before (http://money.cnn.com/data/fear-and-greed/) has become even more extreme. Regards.
Hi,
ReplyDeleteAlso what I noted in SPX is it's a perfect 61.8 FIB entrancement from 1955 level.Looking at Strength of RUT today, do you see this rally breaking down to 1900's really?
Thx
RUT is the only worry to the bear side but it's climbed too much too fast, looking very steep. It may join SPX and DOW if they break their supports.
ReplyDeleteRe SPX, is it time to draw a downtrend line from the peaks on 9 & 12 June? If so, it has moved quite nicely above it, is treating it as support, and is confirming the orange uptrend, even if there could be a correction in the very ST (see attached). Btw, the greed indicator from CNN I mentioned before (http://money.cnn.com/data/fear-and-greed/) has become even more extreme. Regards.
ReplyDeleteJust posted a chart on Twitter. A big move is comin I reckon.
ReplyDelete