friday fiasco

Should be a fun day.

Looks like 7 up days in a row for SPI which is stretching things.

Local markets will hit their 50% and also hit the downtrend line from last year.

Daily RSI is stretched.

I expect that after the sharp open we might see a very sharp selloff and then they may creep it up again.

McLaren made mention of being like 1946 1968 and 1978 for SPX.

Well the first 2 are the same cycles of course.

They made Oct tops and March lows and 1968 also had an early May top with all three dates almost exact with this time.

In 1968 the May decline pulled back to 20th but last night has now stopped the copycating.