There is a possibility that there will be another push higher to 2031.54 SPX. By reaching this far, we can position the Fib. 50% just below the two bottoms made in early Oct. and the minor bottom made last week at the 1925 level. This is of course speculation, but we are trying to see a possible match to a retracement level and often times using this type of forecast can be a smart way to confirm your analysis. Again... Speculation. We are still on an ST Uptrend and no vast divergence in sight that every other blog seems to suggest, other than the MACD's.
Judging from the sentiment we have on the right side of this blog (BEARISH). Any impulsive move down would in fact show a divergence in sentiment. Therefore we must watch carefully to see if this is so. Divergence in this instance would be a bearish move of over a few weeks. But lets not get ahead of ourselves and stick with our indicators.
MT: UP
ST: UP
PA: UP
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