A couple of weeks ago I outlined the $SPX zone of 2705-2750 as a potential rally target to fill some open gaps (Market in Transition). Since then we’ve seen several rallies that have gotten $SPX close to the 2750 area and that area may still be reached.
Analyzing markets is a bit like watching an orchestra perform. If all the instruments are perfectly aligned and in tune it can be an amazing experience. Yet if some performers are off in timing and/or tuning the experience may be rather spoiled. But more often than not, the success of the performance is in the eye/ear of the beholder.
And so it is with markets. We look for signs of confirmation and if some things are not in sync it bears (pun intended) watching.
In this spirit below I present some select charts that make you go: Hmmmm
Some of these I’ve shown on my public twitter feed and have updated them here.
I present them without comment in this setting, but if you’re technically inclined you may find them of interest.
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Categories: Market Analysis