sp'weekly8 - mid-term bullish outlook
Summary
The fifth week to the upside from the sp'1560 low, and the fourth green candle on the weekly rainbow chart. Clearly, the bulls are still very much in control, but we're fast approaching the price/time zone that I initially outlined some months ago.
Best guess, we max out in the sp'1710/20s next Tue/Wed
As is often the case, we could see 3-6 weeks of chop, before some stronger downside. So, right now, September would be the prime time for a mini VIX surge - back into the 20s, with the sp' back in the 1500s.
Baring an end to QE, from there, I'd have to assume VERY significant upside..all the way into spring 2014...with the sp >2000.
Have a good weekend....
Goodnight from London
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*next main post..late Saturday, on the US weekly indexes