Tuesday, July 28, 2009
The weekly SPX
The weekly SPX closed on its Highs last week. It has double Channel Resistance at 985 SPX. An Inverse H&S Bottom was triggered with the move above 960 SPX and suggests much higher prices. The regular 35 week cycle was due in the past week. We should be close to a short term High.
We saw a 3/6/09 Major Low, which was also a 18 Month Cycle Major Low.
After a correction, we should see yet another leg up.
There is a regular 8/32 week cycle due in the 8/14 week.
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