SPX can rally 100 points tomorrow, or 50 points, or even finish slightly up or down - no one can predict market direction with 100% certainty because...... even the market itself cannot predict its own direction! However, one can try to analyze the data and possibilities, the probabilities, and try to use previous patterns etc to come up with possible market moves.
So, with that caveat, I think this market will see SPX 2580 before it sees 2700, so long as SPX does not close on an hourly basis above 2650.
Here is an interesting opinion and chart:
DP Alert: Dow Logs PMO SELL Signal - ST and IT Negative Divergences! - ITTM Neutral for GoldAs noted in the signal table below, the Dow logged a new Price Momentum Oscillator (PMO) SELL signal. I've included the chart below with commentary. The other important news is two new negative divergences showing on the DP indicator charts for the short term and intermediate term! And, no surprise to most, Gold logged a new Intermediate-Term Trend Model (ITTM) Neutral signal. With the huge breakout in the Dollar and a near perfect negative correlation between Gold and the Dollar, this decline in Gold was telegraphed awhile ago.
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http://stockcharts.c...l-for-gold.html