Jul 7, 2015
UPDATE - it played out perfect... bravo mister market:) The final push lower was missing now we have it - SP500 cash index lower low 2044 , sharp reversal to print bullish candle and divergences on different indicators. 37 points rally is strong enough for me. I think move higher has begun. DJ made lower low and fulfilled the condition for 5 waves to finish c/4. SP500 cash index did not make lower low... but my SP500 CFD charts are showing me low at 2041 one point higher than the target I wanted to see.... I do not know how to interpret this situation finished move or not:) Four days later no lower close than the huge bar. I would say 99% this is exhaustion bar which marks the end of a trend and not one marking the beginning of a new trend. European and US indexes hitting MA200 on the daily chart, European indexes met their targets which I am showing for a while... If we see a big green candle today this will be a confirmation that the correction is over. Alternate scenario is some kind of a flat is running for iv of c/4. SP500 will move higher to 2085-2090 and move lower to finish the correction.