Here is the cash SP 500. I have gotten several emails about how far will we go? My answer is more about time than price. The two dates that keep coming up are 5/22 and 6/12. I have no idea if these dates are any good, they do not have as much going for them as what I posted when I called this low previously. However, there is a seasonal tendency for highs to be made in that zone so maybe they will be decent targets time wise. As for price, that would be a guess. My short term targets are about 20 SP500 points away in the 838 area but that is more for an exit of a trade than a call for the high.
We are very short term overbought now after today so a decline would not be a surprise at all. I am looking for sell signals as we move up but am currently on the long side of the market.
As we approach May I will give more current posts about when the short term top might occur, for now it is play the long side until we see something that represents a short term reversal, which could come any time but I think the major top will be in May.