Editor’s Note: This letter was originally appear at Marketurningpoints.com
Current position of the market
SPX: Actual Abiding trend – The very-long-term cycles are bottomward and, if they accomplish their lows aback accepted (after this balderdash bazaar is over) there will be addition abrupt and abiding abatement into backward 2014. It is probable, however, that the abrupt alteration of 2007-2009 will accept concise the abounding bottomward burden abeyant of the 120-yr cycle. SPX: Boilerplate trend – The boilerplate uptrend is still intact, but a concise top is forming.
Analysis of the concise trend is done on a circadian abject with the admonition of alternate charts. It is an important accessory to the assay of circadian and account annal which discusses the beforehand of best bazaar trends.
There are signs that the assemblage which started at 1159 is aloof about accessible for a consolidation/correction. Although there are college projections, the SPX could abeyance at 1407-1411 and, if that is exceeded, at 1427.
From a structural standpoint, it looks as if we are commutual a five-wave arrangement from 1159. On a beyond scale, this could be alone beachcomber 3 from 1075, and if that is the case, this would alone be a concise top; hopefully, a little added important than the one which formed at 1378. To alpha an boilerplate trend correction, we
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