Spx 500 is clearly overstretched & overbought !! The bears are on the losing side of calling the top again and again. But this time it's the bulls who need rest for the next 3-4 months. The correction wave 4 is about to start. The Ger 30 is decoupled from the global bull run since last month. Is this a troubling sign ?? On the other hand Nifty which also completes its last wave 5 run is about to turn bearish. So either the Ger30 gets in sync with both these indexes or SPX500 & Nifty start the correction wave in tune with GER30.
SPX 500 : Short @ 2700 Target : 2420 - 2330 Time : 3-4 Months By April - May 18 Nifty : Short @ 10700 Target : 9500 - 9300 Time : 3-4 Months By April - May 18
ES Weeklies to start: slowest oscillator 81 ~corrective to 75 before damage
Inside....2799.50 continuation/2791.50 range lift/2783.50 back fill
O1...2808.50/2774.75 loses edge, begins consolidation
O2...2818.75/2764.25
O3...2823.75-2827 next strong/2755.75 range drop accleration
2880 top range for parabolic chart
Inside....2799.50 continuation/2791.50 range lift/2783.50 back fill
O1...2808.50/2774.75 loses edge, begins consolidation
O2...2818.75/2764.25
O3...2823.75-2827 next strong/2755.75 range drop accleration
2880 top range for parabolic chart