sp'weekly8b
Summary
*after all the minor chop..the weekly 'rainbow' candle turned back to green late Friday afternoon. Eleven consecutive green candles... since the key low of sp'1814..which is now a significant 146pts lower (7%)
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Something for the late summer/autumn
The following is a 'best bear case' scenario, and assumes Dow 17100/300 zone in mid July..and then a multi-month down wave.
Dow'monthly'3
A major retracement of the Oct'2011 wave would make for a great down wave for the bears, but even more so... a great place to get long for 2015. I'm still largely resigned to 'general' upside into late 2015/early 2016.
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Well, it was a relatively quiet week, and I think that will suffice for this week.
Have a good weekend...
... and goodnight from London
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*the weekend update will be on the US weekly indexes