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  • Suggest You - SPX: Recreating the April Rally

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    f the previous rally.

    The vertical line in the SPX daily chart below compares similar t

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    I stated in last week's article, "Consolidating Gains," that the stock market will sometimes create a self-fulfilling prophesy, because the current SPX rally, which started in October, is similar to the rally that started in April, although the current rally was roughly two weeks ahead of the April rally. SPX continued to follow the "script" last week, while still ahead of the previous rally.

    The vertical line in the SPX daily chart below compares similar te

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    create a self-fulfilling prophesy, because the current SPX rally, which started in October, is similar to the rally that started in April, although the current rally was roughly two weeks ahead of the April rally. SPX continued to follow the "script" last week, while still ahead of the previous rally.

    The vertical line in the SPX daily chart below compares similar t

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    similar to the rally that started in April, although the current rally was roughly two weeks ahead of the April rally. SPX continued to follow the "script" last week, while still ahead of the previous rally.

    The vertical line in the SPX daily chart below compares similar t

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    ahead of the April rally. SPX continued to follow the "script" last week, while still ahead of the previous rally.

    The vertical line in the SPX daily chart below compares similar t

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    f the previous rally.

    The vertical line in the SPX daily chart below compares similar technical points (above and below the price chart) between the April and current rallies to show where the current rally is now compared to the previous rally. If the self-fulfilling prophesy completes, SPX will be in an uptrend for another two months and rise to about 1,300.

    SPX traded between two strong support and resistance levels recently, which are in the 1,160s

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