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Market Timing

Monday, 30 May 2016

After holding again at its very strong 204.0 support level, the SPY "Blasted-Off" again last Tuesday (5/24/16), heading for its all-time closing high at 213.5 (the intraday high is 214.0).  If the market breaks above 214.0 (approx. 2140 on the S&P 500 Index), with some degree of strength, we could easily get a 5-10% rally thereafter.

Two things stand in the way of this:
- one is the Fed (surprise, surprise) and
- the other is the SPY's extremely strong resistance at 214.0. This is a very tough one to call, but we have high confidence that MIPS will pick up the trend quickly.
Stay tuned...



 

Posted by: Dr. G. Paul Distefano AT 10:27 pm   |  Permalink   |  Email

MIPS Timing Systems
P.O. Box 691047
Houston, TX  77269

An affordable and efficient stock market timing tool. Contact MIPS
281-251-MIPS (6477)
E-mail: support@mipstiming.com