SPX update

As mentioned earlier the SPX had to challenge the 1300 level short term and it does as I write which very likely will hold for now. In the case we break and close below on a weekly basis it would create quite a bearish momentum and trigger follow through to the 200 MA before any rebound would occur but for many reasons I rather suspect it will hold for now including tomorrows payroll number since a bad one is now priced in. Still we are in overall bearish price action as we made new lows compared to last week for the DOW and SPX . The ugly part comes rather after Full Moon ( Lunar Eclipse) around the 15th in benign Sagittarius with benign angles to Jupiter and Neptun but already the 13th starts to be problematic. Hence we have a time window of 10 days for the market to rise and thereafter around the next solar eclipse 1st July we have a horror pattern waiting to sink the markets in a dramatic way. The red alert is still valid and our mantra remains active sell rallies as a steep correction is due soon.

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~ by behindthematrix on June 2, 2011.

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