The monthly, weekly and daily close last Friday for all indexes ended on down side on Oil prices drop. Many shale or fracking companies fell around 25 per cent.
All main indexes need to take new highs already next Monday. Otherwise there is a risk that the daily 8 MA starts to go sideways. And a close below this MA is very negative. A very interesting week starts Monday and US is back. I am always trying to find the final top in any trend. SP500 the most important index for all the others high is 2075.55. My target is 2100, only 25 points away, which can be hit by any rally. The fundamental situation is said to be that current price cannot go higher because the company reports are now priced in. We are only 18 days from X-mas and then starts 2015. A bull market seldom last more than six years. I am expecting to see where the big trends are going during December.
SP500 Monthly close.
The fith and last wave started exactly 2 years ago.
Dec 2012.
Compare the fifth wave with that of Gold below
GOLD monthly.
GOLD monthly with waves. All indexes except FTSE have got the same picture for the fifth wave. Gold finished with two blow out months. We are currently in the blow out stage for the indexes if you look at their monthly charts. If that is correct the time is in to take long term profits and prepare to short the indexes long term.
All main indexes need to take new highs already next Monday. Otherwise there is a risk that the daily 8 MA starts to go sideways. And a close below this MA is very negative. A very interesting week starts Monday and US is back. I am always trying to find the final top in any trend. SP500 the most important index for all the others high is 2075.55. My target is 2100, only 25 points away, which can be hit by any rally. The fundamental situation is said to be that current price cannot go higher because the company reports are now priced in. We are only 18 days from X-mas and then starts 2015. A bull market seldom last more than six years. I am expecting to see where the big trends are going during December.
Dec 2012.
Compare the fifth wave with that of Gold below
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