Short
Sell Rallies
Updated
Most people only look at price and forget about time. When time and price meet, price can have a big reaction. Using fibonacci in time. Anchors, yr 1896 ATL to yr 1929 H, project fib ratios out in time, there seems to be a pattern from observation.
Years 1942, 1950, 1974 & 1982 these fib ratios showed price was at the end of a correction with the 38.2 being the deeper of the two corrections and the 61.8 being a -24% correction. Year 2007 the 0.382 was at the start of a correction just like the 61.8 is at the start of the current correction. A -24% correction would put the DOW at the monthly close high of year 2007 in the 13800´s
The correction could be deeper, i do not know. However, once the correction is over. If history repeats. Looking left of the chart. Price would have an upside bias.
Years 1942, 1950, 1974 & 1982 these fib ratios showed price was at the end of a correction with the 38.2 being the deeper of the two corrections and the 61.8 being a -24% correction. Year 2007 the 0.382 was at the start of a correction just like the 61.8 is at the start of the current correction. A -24% correction would put the DOW at the monthly close high of year 2007 in the 13800´s
The correction could be deeper, i do not know. However, once the correction is over. If history repeats. Looking left of the chart. Price would have an upside bias.
Note
With Yellens dovish statments yesterday on rate hikes, I am not comfortable recomending shorting the spx. If could just continue to drift higher. I do not know. If the dips continue to be bought, there are two possible upside targets Notes on chart Note
es june contract could have a price target @ 2118.50 using continual anchors Note
I believe 2494 - 2500 could find some resistance where intermediate 3 could end. all bs. with a pullback towards the 2300 in an intermediate 4, intermediate 5 has a possible target up at 2511 with a -0.618 fib extension using year 1974 anchor low to year 2007 anchor high. More bs, I believe intermediate 5 could end towards the end of year 2017 setting up a primary 2 which could last pretty much of year 2018. Once Primary 2 is done, price could be entering a primary 3 of cycle 3 where in the nxt few years, where we could witness a very powerful minor 3 of primary 3 of cycle 3 aka 3 of 3 of 3 which would probably blow all the doom and gloomers minds to shreds 
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