SPX Topping: 2012 Redux Déjà Vu?

Looks like someone turned on the 2012 SPX market algo.

Some eerie similarities between the start of 2012 and 2013:

1. 11 up weeks/2 down weeks

2. 12-13% up move from the start of the year

3. The 13 weekly candles stayed above 8-day EMA.

If we really are following the 2012 script we should be topping out in the next 2 weeks. We are close to all-time SPX 2007 highs at 1576. The top should be followed with a pullback/dip and then a more serious retracement of somewhere between 5-10% if we repeating 2012's pattern.

spx032813

Tags:

Leave A Reply (1 comment so far)