NOTE ALSO the graph below of the SPX
THE RED LINE ( 50 DAY MA) crossing over the BLACK 200 day LINE
just like it did on MARCH 8th leading to a 22 pt drop that day-
DOES THIS MEAN the RALLY to a HIGHER HIGH is possible ?? SIMPLE ANSWER= YES
but how high and how long will it last -
AHH, the prefect question
IMV, this is still an intermediate rebound from the 2134 HIGh to the 1810 LOW
thus we can only expect a fibo relationship RETRACE from high to low-
In other word, we do NOT EXPECT THE SPX/DOW to run to NEW HIGHS above last May/ JUNE.
ITS ALL DRAWN OUT in our monthly directional projections and we attach a cycle study to
our overall analysis to determine the best course of action for our trades.
Jay
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