Quote:
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Originally Posted by Robin
Probably the S&P will make 130 by New Year, maybe 135 by spring, and then it may fall back and take a year to recover. |
I use futures as a vehicle, so I am not sure how that equates with SPY. The pattern in the chart above, albeit missing the starting low in 2002, is an organized advance.
Longer-term (next 1-3 years), I am leaning towards this being a terminating pattern of the advance from the 2002 low. If that is correct, first stop on this chart is a test of the 107 low.
I will be shorting any 1-2 month bounce off the October low (assuming it happens).