We are all very much aware that the unstoppable bull run since March 2009 was punched straight in the nose at the end of January 2018 and the S&P 500 went tumbling down about -10%. Good things for the market, like corporate earnings, new jobs, and lower unemployment have been offset by new tariffs, trade wars, real wars, the Fed, rising interest rates and fears of increasing inflation.
At any rate, since the end of January 2018, the SPY has waffled down and up several times forming either a "W-Pattern" as in the yellow lines below (similar to a double bottom) or a "Triangle Pattern" as in the white lines below.
The possibilities for the SPY from today to the end of May 2018 are:
A) complete the W-Pattern and make new highs, or
B) at or near the new high level, turn around and head back down, or
C) hit the top of the Triangle line, turn around and head back down, or
D) stall before reaching the top of the Triangle pattern, and head back down.
We are asking for your opinion, and will offer a one month free MIPS monthly subscription ($39 refund) to the first 10 responders that call the correct or closest outcome (A,B, C, or D) that happens by the end of May 2018.
Paul Distefano, PhD
CEO / Founder
MIPS Timing Systems, LLC