This is the second of three blog posts on the current status of the market. Here is the monthly bars chart of SPY...
On this time frame, we see an accelerated uptrend that started mid-2011, with its fitted TopFinder TF1 which ended in mid-2014. This was followed by a two year long trading range, bracketed by the blue lines. Late in that trading range, a new accelerated uptrend started in late 2015, spawning a three-fold hierarchy of Midas support curves (S1, S2 and S3), along with a fitted TopFinder which is currently about 78% through its duration of 46 billion shares of cumulative volume. The purple vertical line marks the projected end of this accelerated uptrend. And as I said in the last post, ignore the dates that the plotting program has placed on the horizontal axis going into the future. We will know when the trend ends when we get there, but not before.
On this time frame, we see an accelerated uptrend that started mid-2011, with its fitted TopFinder TF1 which ended in mid-2014. This was followed by a two year long trading range, bracketed by the blue lines. Late in that trading range, a new accelerated uptrend started in late 2015, spawning a three-fold hierarchy of Midas support curves (S1, S2 and S3), along with a fitted TopFinder which is currently about 78% through its duration of 46 billion shares of cumulative volume. The purple vertical line marks the projected end of this accelerated uptrend. And as I said in the last post, ignore the dates that the plotting program has placed on the horizontal axis going into the future. We will know when the trend ends when we get there, but not before.
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