sp'weekly2, rainbow
sp'monthly3, rainbow
Summary
Sometimes simple is best..and that's partly why I will keep highlighting these 'rainbow' charts, that make use of the 'Elder Impulse System'.
Despite the 'hopes' of the doomer bears - not least myself, the primary trend has been upward for the past four years.
Perhaps even worse, - and to me, what remains remarkable, is that we've not had a decent multi-month down cycle since late summer 2011 Despite all of the underlying problems..and endless ticking econ-time bombs, the market has been holding itself together.
No doubt, its largely a result of the Fed, the HFT algo-bots, and the delusion in the mainstream that 'everything is gonna be okay'.
A somewhat disturbing thought to end the night....
This 'grand' multi-year up trend will of course eventually conclude, but I'm really starting to believe the cycle peak won't be for another 2-3 years, which at the current general rate of up trend, would mean we won't max out until around sp'2500/2750 in early 2016.
Goodnight from London