Hi All!
Below you'll find a short analysis on the S&P500 based on a monthly timeframe.
A lot of important cycles are lining up in the end of the year / beginning of the new year (half NOV 2017 / JAN 2018). Possibily this marks a turning point for the markets to set the final high after which a major correction can take place.
Targets for the correction are:
* 2112 (WaveIII)
* 1800 (Wave IV)
* 1690 (Red line --> see analysis of Edwin van den Berg)
* 1530 (High of Tech bubble 2000 and Real Estate Bubble 2007)
* 1085 (Wave II)
Notice the (Bearish) Divergence between the AD line and price. (small participation in uptrend)
RSI is in overbought area, this however, does not have to indicate something in a strong trend.
Any feedback is welcome!
Happy Trading!
Jouke Hartman
Below you'll find a short analysis on the S&P500 based on a monthly timeframe.
A lot of important cycles are lining up in the end of the year / beginning of the new year (half NOV 2017 / JAN 2018). Possibily this marks a turning point for the markets to set the final high after which a major correction can take place.
Targets for the correction are:
* 2112 (WaveIII)
* 1800 (Wave IV)
* 1690 (Red line --> see analysis of Edwin van den Berg)
* 1530 (High of Tech bubble 2000 and Real Estate Bubble 2007)
* 1085 (Wave II)
Notice the (Bearish) Divergence between the AD line and price. (small participation in uptrend)
RSI is in overbought area, this however, does not have to indicate something in a strong trend.
Any feedback is welcome!
Happy Trading!
Jouke Hartman