THE SPX HIT 1563 and that is JUST 3 PTS shy of my PROJECTION of 1566 IN THE MONTH OF MARCH on or before March 28th.
DOES THIS MEAN A CRASH IS IMMINENT
NO!!--- IT DOES NOT---
REPEAT-- NO !! IT DOES NOT ---
but the market is short term overbot and has been since the 8th, according to the ARMS DATA.
March 8th
5 dayArms 75.4
5 day trin 377
10day trin 821
20day trin 77
ALL GROSSLY OVERBOT
Blue readings are OVERBOT
10day OPEN TRIN = .90
5 SMA =.70
ALL strongly OVERBOT
WE are expecting a set back on Monday & Tuesday to about the 1535 to 1540 level
THEN there is STILL THE POTENTIAL to reach as high as 1590 on the SPX -on or before
March 28th
STAY TUNED FOR FURTHER UDPATES
Jay
No comments:
Post a Comment