Thursday 4, May 2017

We broke out of the small downward fork and currently we following the white fork.   It's very likely to break the bottom of the white fork very soon and test the 2310 level before resuming the bullish trend to 2450 to 2525.  I'm thinking this stagnation since the beginning of March is a wave 4.

Wednesday 26 April, 2017

This is an interesting junction of the pink fork and the blue fork.  If we don't break through the 2400 area a pull back to 2300 would seem very likely. I believe that would create a possible ABC 4th wave.  But the 2450 to 2525 would still be my target as I described to Danny in the comments of my last post on 19 April, 2017.
The Ichimoku is very strong. The market is above the Tenkan and Kijun,  the Kumo and the Chikou.  The only negative is the Tenkan and Kijun are in the Kumo, but they are sure to break out.  It all seems pretty positive, but I'm just saying there is a reason to turn down too.

19 April, 2017

A break out through the 2350 level could signal the beginning of wave five which I believe will terminate at around 2450.  If you wish to know why I'd be happy to get into my analysis but since I don't get a lot of feed back I feel like I post this stuff  for my own satisfaction. 
Basically it's derived from Fibonacci ratios and Andrew's Pitchforks and I welcome you to look at previous for my reliability.

28 March 2017

This would be a good level to make a new high from.  Look at all that support.  Please read my prediction from on month ago 26 February where I said
" I doubt we will see 2300 but rather somewhere between that and 2325 before heading higher.  Long ago I said 2400 and it seems we will get there after a small delay. "  These levels are calculated.

1 May 2017

Looks like Wave 3 of 3 is taking us for quite a ride! 

26 February 2017

In my previous post about ten days ago I mentioned a 50 point reversal before heading higher.  It looks like I got ahead of the pattern which appears to still be in a wave 3 advance.  Look to the Volume Profile for areas of support.  I doubt we will see 2300 but rather somewhere between that and 2325 before heading higher.  Long ago I said 2400 and it seems we will get there after a small delay. 

15 February 2017

The target area has been reached.  I expect a retreat from this area, but 2400 or better is still likely before we see a substantial bear market.  We are breaking back through the handle of the Andrews Pitchfork originating at 666.75 on 3/6/2019.  The wave does not look complete and generally the market does not return to the other side of the fork for long, so I'm thinking a 50 point wave 4 correction is due.