SPX Roadmap May 2017

Zaktualizowano
Seems ED is a possibility in this final upleg into the summer
Uwaga
Triangle is a bit ugly but does not matter as long as it forms properly
Uwaga
This whole thing could still play out as a flat meaning could form as irregular flat or running flat. In any way higher highs will follow, the questions is one more downleg to 2300 or higher low as in 2360s?
Uwaga
Actually flat looks better since will provide alternation which means next week we top out and then sharp decline. Let's see
Uwaga
Actually could be a larger triangle also. Ahm these 4th wave. Next wave down will decide, if impulsive or corrective what it is
Uwaga
Triangle should be close to completing on futures
Uwaga
Complete, lets see whether 2420 is at hand
Uwaga
ED forming on a lower level seems to me if it breaks below 2380
Uwaga
So far holding the line at 2380, what a complication
Uwaga
OK, so it was not a triangle as it seems to me is come form of corrective wave down on a micro level
Uwaga
Momentum spike on the downside, implying worst is over, At worst a marginal new low should be followed by a new ATH
Uwaga
Following the general shape so far. Lets' see
Uwaga
Closed above the 55 dma and good weekly candle bounced off the 20 wma within the BB. So far so good
Uwaga
Just released CFTC spec net long positioning is neutral, has been cut down significantly. Bullish
Uwaga
Slightly lowering summer target to 2465/2479
Uwaga
2nd estimate GDP ticks up to 2% YOY. Goldilocks everywhere. Ongoing acceleration from the bottom in 2Q16

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