One of the key U.S. stock indexes SP 500 from March 2009 confidently moving bottom-up trend and has passed only two significant phase correction - in May and June. Our attention is attracted figure, formed from the fourth quarter of 2008 and a reminder to turn the model's head and shoulders. Assuming that this is indeed head and shoulders, the neck line runs at 945 points, and the top of Perforation, happened about a week ago, should be seen as the completion of the model, some time after which usually follows the course back to the neck line. Consequently, in the next 2-3 weeks there is a correction to the index level of 945. However, further model assumes that after returning to the line price is likely to grow to a length of neck, ie theoretically aim for the end of the third quarter of 1215 could be marked, with high scenario.

 

Source - Reuters

 

LEDs indicate the domination of the bulls in the market, leading to a state of perekuplennosti (as evidenced by the situation of stochastic lines and RSI). Grid system ADX alsoshows the continued dominance of the bulls (DM lies significantly above-DM), as well as moving average (fast slow above) and MACD (zero excess), but the upward trend observed attenuation (DM and-DM converge). Given the strong perekuplennost growth and signs of abating, our assumption about the upcoming phase correction to the level of 945 points does not contradict the signal indicator.

Source - Reuters

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