Friday, March 8, 2013

S&P 500 daily and weekly views and follow up

I haven't commented on the market lately here on our public blog, however things are pretty much lining up like we projected!  The first chart here shows a daily S&P 500, last year in December we showed this inverse H&S pattern (in green) which projected to about 1550 on the SPX - well the S&P hit that target today!!

The second chart shows a monthly chart of the S&P, this is one I posted a while back as well - honestly I don't see how the SPX won't eventually test the upper long term trendline going back to 2000.  

Otherwise shorter term, our thoughts are that the market is carving out a head to a H&S top for a sell off in April or May as the 'Sell in May and go away' will likely play out again this year.  however after some summer chop and consolidation, I would expect the market to then do well in the fall and end of year.  Then perhaps a bear market finally begins next year?  

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