Weekly review / Седмичен преглед

SP500 moved higher but is flat for the week. The idea stays the same - a pullback before moving higher.

Two targets - the first one is 38,2% retracement from the December low, the trend line and minor support level. The second one is cluster of support levels - 50% retracement from the December low, 38,2% retracement from the November low, EMA50 from the daily chart, reaction of the same size 65points like the last one, support level of the previous high in December.

Weekly review / Седмичен преглед

The Indexes continue moving higher but I think the next move is correction.
There is still no bearish signs but I would not chase the equities at this point. The price is far away from MA50 and it will fall back to it:) that is sure:)

My target for the pullback is 1250-1255 where the cluster is of different support levels - MA50,MA200,38.2% Fibo retracement, reaction of the same size like the last one.

Weekly review / Седмичен преглед

Another boring week with no surprises. SP500 made higher high almost touched 1297 as expected. Another push higher can not be excluded, but the risk is getting higher and higher and the profit not worth it. The move looks tired.

What I expect a top next week and correction for 2-3 weeks and first target MA50 1240-1245.

The correction should be a three wave move. First target is 38,2 Fibo retracement and MA50. Next lower target is 50% Fibo retracement and pullback of the same size as the last one - 65 points.

The cycles are already very extended on the upside, so I expect short living but sharp sell off and a bottom between 25.01 and the end of the month.

Weekly review / Седмичен преглед

The indexes are moving higher, no surprise, but slower than expected.
I think one more push higher between 1292-1300 before a correction lasting 2-3 weeks with target probably above 1175.
Its difficult to say how a top will look like so I will skip the 60-min chart.