Here is a daily chart of the cash S&P 500 showing its current position within George Lindsay's Domed House pattern. I've been tracking this and other similar examples of Lindsay's
Three Peaks and a Domed House formation over the past couple of years.
The market is pretty much on schedule and I think it is heading higher into the peak of the domed house at point 23. I've projected this top for April 25 at the 1350 level. At the moment this looks like a good estimate.
The only real risk I see is that the market turns out to be stronger than I am expecting and instead puts in its point 23 high in June instead of late April. If this were to happen I would think the top would be near 1400 rather than 1350.
In this post about the Domed House in the S&P I explained that the ideal time projection for point 23 from point 14 of 7 months and 10 days would put the top on June 5. I also explained why at the time I still preferred April 25 as the likely date for point 23.
No comments:
Post a Comment