Previous Post: SP500 Kitchin Cycle says trouble brewing - Update
Where are we in the current trend ?
From the consolidation (re accumulation) in 2016 we are not at the start, that is easy, so we must be in the middle or near the end. So far we have seen a massive 42% move and on any measure that is huge, and based on the dominate cycle within the SP500 this blog says we are near the end, or in the last move (say 10% if we are lucky) before we get another major consolidation. Nobody knows if the next consolidation will be defined as a reversal or continuation at this stage. Nothing moves in a straight line for ever!
New money into this market is surely high stakes poker. The defensive trades (gold, silver, bonds) all have bases set up for a price move(if SP500 reverses), the question is do market players continue to move money from SP500 to defensive positions.
NOTE: The price chart below with our RTTHurstDPO indicator shows price is conforming to the 900 bar Kitchin cycle.
Original Post: http://ift.tt/2geV3p6
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