The market structure needs one last spike. This spike will lead the market (SP500, DJIA and Nasdaq) to level above August 14 highs. However, SP500 and Nasdaq should not break above April 2012 highs. Therefore, the SP500 can top out between 1410 and 1424.
Also note that we are towards the end of the IPM turn window. Therefore, a market turn should be expected at any time.
Also note that we are towards the end of the IPM turn window. Therefore, a market turn should be expected at any time.
We've passed the turn date and the market doesn't seem to have taken a dent. Any updates/ideas?
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