Trend is up

On Saturday March 23, 2013, we published our hourly model for $SPX from the 1,538 low to our projected target of 1,616 (range of 1,600-1,620).

Our model called for a interim high of 1,567 (range of 1,565 - 1,570), which in fact occurred last Thursday March 28, 2013 at the high end of our range (1,570).

Then our model called for a dip to 1,561 (range of 1,558 - 1,564), which occurred today.

Therefore, $SPX is subdividing appropriately and according to our predictive model, en route as we believe to a higher high (1,582 with a range of 1,580 - 1,585). From there, we will dip towards 1,571, and subsequently to new all-time highs (1,600-1,620).

A daily close below 1,537 would invalidate the above model.



DISCLAIMER: This blog shall not be perceived as investment advice. This is a personal diary of our thoughts on the markets. Consult a professional broker or adviser before investing.  Any opinions, news, research, analyses, prices, or other information contained on this blog are shared as personal thoughts and provided as general commentary only.