Tuesday, March 12, 2013

Yet Another 15% Parabolic Rally ?

hey folks,

Not sure how many of you remember this chart? but a few months ago i did a historical Chart Study to compare this current rally to previous rallies we have seen in the past 3-4 years. Parabolic rallies have NOT been that unusual to see over the last few years. We have seen several of them. This current rally is now up about 15% from the November lows and based on historical rallies we have seen since 2010, almost every single "parabolic" rally has moved up somewhere around 15%(give or take 1%). 

As you already know market Tops are rarely a ONE DAY event and i am not saying we are at a TOP now but based on history and this SPX chart, we certainly need to be pay closer attention right now. SPX could easily move sideways, churn and chop for a few more weeks before rolling over to downside like it has done before big previous corrections. 

That remains to be seen but the warning signs are starting to manifest themselves.  

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