SPX Weekly Trend Model
Respecting this chart is not about being a perma-bear. It is about recognizing a major trend change in the past few months and trying to anticipate an acceleration of the developing new downtrend. Unless and until this model reverses LONG, the opportunities for significant profits lay on the SHORT side. The SPX is a couple of months into a sideways to up consolidation. This too shall pass and according to EW patterns, it should end with a vengeance.
I am in LA for a few days, to attend a Jackson Browne concert, to just get out of the Arizona high desert heat, to refresh and renew, to gain new perspectives and to recharge for a heck of a market ride in the second half of this year. The view from West Hollywood is contained in this chart, in my words above, in my plans to stake out a fountain of profits in the months ahead. You are invited to come along for the ride, if you are so inclined.
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