Here is a weekly bar shart of the cash S&P 500 index showing the entire bull market thus far. This bull market started from a low at 768 in October 2002. I last commented on this chart here.
As you can see the market has reached the 1/2 point of the fourth box. For the past six months this has been my target for the end of the bull market. But as I have remarked in this post and in this one I still do not see any convincing sign that the move up from the June-July lows is complete. So my box theory says that the next stopping point for the index will be the top of the current box near 1511. I think we shall see this level sometime during the first quarter of 2007.
3 comments:
if 1511 is reached, that will be spitting distance from 1553. Will we see the all time high tested? perhaps this will coincide with a Nasdaq 2550 which would be half way thru the 4th box and half the all time high!
carl, my use of the cyclic analysis methods of jum hurst also suggest a target area of the 1500 in the 1st quarter.
carl, good stuff ... see http://kachingo2006-5.blogspot.com/ for my ramblings. I've used one of your charts mainly for easy reference. Keep up the great work.
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