Thursday, May 7, 2015
The market bounced off of yesterday's oversold levels in the McClellan Oscillator. At the worst part of the day yesterday SPX was down to the -3 STDEV Bollinger Band and bounced. However the chart, and the daily candles don't look like this the market is forming a bottom here. At best I would expect the SPX to test the 200 day moving average which is 3% below today's close.
Tuesday, April 7, 2015
Thursday, December 26, 2013
Tuesday, October 1, 2013
The current corrective phase is at the mercy of politics> The cycles and othe indicators suggest another week of choppy behavior.
The McClellan Oscillator and SUM Index
This is in a minor corrective phase within an uptrend
Click images to enlarge
|The S&P 500 index with 15 day cycle|