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There is enough fractal energy to keep the S&P 500 in the 2050-2060 range for the next six trading days to the March 29 turn date, but probably not enough to push much higher. After March 28 we’ll most likely see a 38.2% retracement of about 100 points to the 1950 area to consolidate this upturn. That would set up the big upswing in May and June.
One reason to expect some weakness in stocks is that the gold daily chart is full of energy with a fractal dimension over 65. It is time for the prior trend to resume, with a $1,400-$1,440 target.Print This Post