The SPX made a cycle high of 2120 on 2/25/15 and a closing high of 2117.52 on 3/2/15. It has since declined -3.8% to the 2039.69 intraday low on 3/11/15, and has also declined for the third straight week and closed at 2053.40, or -0.9% on the week.
It is significant to note that March is a long term Fib month in that it is 89 months from the 10/2007 SPX market top preceding the “Panic of 2008” when the SPX declined -57.1% to a 667 low from the 1556 market top.
The SPX is at an inflection point, which is the 100DEMA of 2043.39, and was S/T-O/S with the 5 RSI at 1722 on 3/11. It was also a short term Fib day count zone in that 3/9 is 55 trading days from the 12/16/14 1973 low, and 3/8 is 144 calendar days from the 10/15/14 1821 low, following a -9.8% decline from the 2020 9/19/14 high.
The previous two S/T declines exceeded the 100DEMA, but not by much so it would be no surprise if this one does too before the Fed once again manipulates the market to the upside so as to continue the ponzi scheme. A break of the 100DEMA zone will seek out the 1995 200DEMA inflection point [if the Fed lets it].
The Fed will make every effort to keep the “game” going for Obama, just as the BLS will continues to blatantly falsify and adjust the economic numbers to make the people think the economy and labor market is booming. However, that is clearly not the case, and the 2015.75 long term 8.6 year cycle date time zone [early Oct] casts a looming big dark shadow for the music to stop.
I have received many of your emails requesting the volatility band calculator but there is a temporary technical delay for downloading it. However, I am on the case and it will be resolved soon.
Kevin Haggerty