Have you seen the VIX??
Is this something to alert traders to whats next??
Have you seen the Euro dragging lower while the SPX makes new higher gains?
What is TODAY??
Its 55 trade days from the June4th low, a typical FIBO convergence , low to high.
BIG changes are due shortly, this week which will possibly create international turmoil,
or at least the threat of it thus changing buying or selling perceptions.
the NEXT 55 day convergence is Aug27th, exactly where Ive indicated the next low, with the 28th as a pivot higher to the eom. Ohhh !! I forgot, it was not noted here until now- Only the VPN members have the entire progression thru October.
On the SPX, we can note a COMPLICATED multi wave uptrend from that June 4th low at 1266 to 1427 today.
Some numerical coincidences to note
Dow had a 333 in its price high today--= triple 3's add to 9, an ENDING #
SPX at 1427 adds up to 5, representing CHANGE
Today is an 8day HIGH /TURN, making 2mrw an acceleration
1408 has been noted by some techs as critical support, and if that breaks, then 1395 is next
as I type this the SPX has fallen from 1427 at 10:30am to 1411 at 3:15pm.
CNBC reporting that Israel is planning to prevent Iran from continuing to develop an Atomic weapon. That has been going on under neath the surface for a while now, but somehow, its coming out in the MAJOR NEWS Media today, with a little more urgency than previously noted.
MY work with INTERNAL TECH DATA & ARMS index levels has NOT changed other than to got MORE OVERBOUGHT, and has been building to a great degree since August 13th, thus building more reason to be CAUTIOUS.
YES, IVE BEEN WARNING about a CHANGE since Aug13th-- MAYBE you got a good laugh from my reports as WAVE 2 continues to build higher. ITS MAIN PURPOSE is to KEEP the GENERAL public thinking BULLISH, and even today as the SPX reached 1427, the DOW was closing in a new annual HIGH
near 13,500. THE MEDIA was interviewing ONLY those people who are professing SPX to 1500 by year end, THUS IMV, GIVING TRADERS MORE REASON to WAKE UP.
IS THIS FANTASY ??
And if so when is REALITY going to appear?? -- DUHHH, ITS creeping up on you slowly,
Thus YOU HOLD ONTO YOUR POSITIONS still expecting higher prices--
EVER HEAR of the SLOPE OF HOPE - DONT LET yourself get trapped that way.
STAY TUNED FOR FURTHER UPDATES