Update on monthly SP500 (SPX) - plus some thoughts
A newer look at the monthly chart for SPX, with circles indicating similarities and some divergence.
Notice also the date periods of the two bull markets. (and remember this one had QE1+2+3.....(+4?)
Notice the stochastics RSI is currently low.
Notice the MACD signal for last months also.
I still see a minimum correction back to the MA200 line.
In conjunction the Dow Jones Transportation Index (DJT) has just made a death cross on DAILY chart.
DJT normally signals what to come, ahead of SPX and DJI and NASDAQ.
A grexit is eyed very soon, from 8 days to 3-4 months, which could act as the "trigger" for the correction ahead.
Notice also the date periods of the two bull markets. (and remember this one had QE1+2+3.....(+4?)
Notice the stochastics RSI is currently low.
Notice the MACD signal for last months also.
I still see a minimum correction back to the MA200 line.
In conjunction the Dow Jones Transportation Index (DJT) has just made a death cross on DAILY chart.
DJT normally signals what to come, ahead of SPX and DJI and NASDAQ.
A grexit is eyed very soon, from 8 days to 3-4 months, which could act as the "trigger" for the correction ahead.