It was another day for the equity bull maniacs, who notably achieved a new cycle high of sp'2104, along with Dow 18103. The ultimate issue now is whether new historic highs >sp'2134 and >Dow 18351 can be made in the coming weeks/months.
To end today.. a few Fibonacci time charts...
So.... what to make of the above?
If you start from May'2015, the weekly cycle is offering 'something' in late May, whilst the monthly cycle is also offering a possible turn in May.
It should be clear, ANY price action >sp'2134 would negate the charts. .. and I sure ain't trading on them.. its just something unusual that I wanted to highlight.
It is notable that the Nasdaq comp' maxed out in July of 2015, and thus the next time event is pushed out to late July/August.
Nasdaq comp', weekly2
Macro chatter - Mr Long with Mr Rubino.
For those with an interest in the big picture.. this is a must-view.
Poster 'Alexandre M.' highlighted the following EW video by Lara.
I try to refrain from counting any of this nonsense, but I will say, its a good video.. with some interesting ideas.
Wed' will see Existing home sales and the latest EIA report.
As ever... your thoughts on the Fib-time charts are welcome.
Goodnight from London