Andre Gratian Blog | Talkmarkets | Page 1
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When I was a stock broker years ago, a friend introduced me to technical analysis of the market and it is not an exaggeration to say that I fell in love with this approach! Ever since then, it has become an increasingly important part of my life, and I frequently  spend 8 or more hours ... more

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SPX Going For The Major Top?
SPX rallied sharply from its short-term cycle low and immediately made a new high.  As long as the cycle holds out, it could push to 4440+ before finding the next short-term top.
Intermediate Market Top Reached?
It has been a long steep climb for SPX since the March 2020 low. Is it coming to an end? There are signs of rolling over in the trend itself, and these are especially noticeable in the various indicators.
Probing For A Top
The S&P 500 Index is in the process of creating a double-top which will push prices back into the short-term cycle low. The extent of the decline into that time frame and the following rebound will determine what kind of a top the index is making.
Projection Reached - Cycles Topping
NDX strength combined with a rally in DJIA has enabled the SPX to reach its phase projection, and this could lead to the start of an intermediate correction, especially with breadth making such a poor showing.
A Final Try At 4310?
Recent price action makes the DJIA the weakest of the major indices and the bellwether of the coming correction. The NYA is close behind!
A Correction Is Starting
Of the three major indexes, the DJIA, which was initially the strongest, has since become the weakest and has visibly supplied a sell signal. The NDX, which started to decelerate before the others, has not reversed its trend, but it could do so soon.
4310 Right Around The Corner
SPX is on its way to an intermediate top which could arrive shortly. We should look for it after the short-term cycle has made its low and after the index has reached the vicinity of 4310.
EC Approaching An Intermediate Peak
There is some evidence that we are still in the bull market that started in 2009. This trend could continue into 2021 before major cycles take over and it ends.
Consolidation Ahead
At the daily level, SPX is showing the deceleration pattern which precedes a minor top. During the past two days, the index crawled to a fractional new high, but each day it failed to retain its daily gain and it pulled back at the end of the day.
Waves Show The S&P 500 Should Be Headed For A New High
The Russell 2000 continues to diverge significantly from the S&P 500 over the intermediate term. Based on previous similar divergences, one should be prepared for an important correction to take place in the S&P. S&P behavior may suggest otherwise.
Is The Correction Complete?
There is evidence that we are still in the bull market which started in 2009, and could continue into the first half of 2021 before major cycles take over and it ends. A move past 4500 is possible before the current bull market makes a final top
Extending Phase Two?
The S&P 500 made a new all-time high today! The Russell 2000 made a new all-time high eight weeks ago!  We know historically this disparity suggests a market correction. There is no reason to believe that it will be any different, this time. 
Market Trends - Looking Ahead!
The intermediate trend, as defined by the weekly SPX chart is still up and weeks away of giving a sell signal.  This is verifiable with the chart pattern itself, which is still in an obvious uptrend.
S&P 500 Indicators Flashing Caution
The Russell 2000 continues to flash a warning by showing significant divergence from the S&P 500. Since it has an excellent track record of alerting us to a reversal in the latter, that warning should not be ignored.
Phase Two Projection Reached
SPX probably completed its second bullish phase on Friday. Evidence of this should become manifest next week. 
Minor Correction Due
There is some evidence that we are still in the bull market which started in 2009 and which could continue into the first half of 2021 before major cycles take over and it comes to an end. 
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