sp'weekly4
Summary
*I should note, the original targets (blue box) are from last summer- of sp'1950/2050. Right now, I'd have a revised target of 1880/1920. I thought I'd leave the old targets there though.
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The above outlook is something I have generally been holding to since last summer.
I'm seeking a intermediate'3 top within the next month or two, and then a multi-month wave lower, flooring sometime between August-October. From there..a huge hyper ramp, probably to sp'2300/2500 by late 2015/early 2016.
I realise the latter will be heresy to some of the remaining doomer bears out there, but hey..that is just my 'best guess'. Treat it as you wish.
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Bonus chart..
CRB vs Sp'500, weekly
The CRB index gained 1.2% this week, and is getting close to the big 300 level, not seen since Feb'2013. At some point the disparity between the two will largely close. Normally I'd be inclined to look for an inflationary outcome, yet money velocity is low, and is still falling. Anyway, I thought it was worth highlighting again.
Have a good weekend
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*the weekend post will be on the US weekly indexes