One more lunge upward

US equities opened lower, but have probably put in a key spike floor of sp'2085. The bigger weekly/monthly cycles are offering upside to the 2150s. Best case upside for the bull maniacs is 2170/80, but from there... the market looks set for a major multi-month decline of 8-12%.


sp'weekly7

sp'monthly

Summary

*an outright bearish red candle on the weekly 'rainbow' chart. However, we saw a few red candles in March, and those never played out well for the bears.
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Suffice to say, a tag of the upper weekly bollinger.. and possibly monthly' would make for a rather natural summer top.

It has been a long week... and I'll leave it at that :)

Goodnight from London
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*the weekend update will be on the US monthly indexes