Evening ppl,It just dawned on me that the S&P has put in a...

Evening ppl,

It just dawned on me that the S&P has put in a higher double bottom with the daily lows on 7/8 and 11/8 at about 992.4 and that spells "the index is going higher".

It’s a pretty sure sign of strength while it holds.

Its also the 1/8th extension of the rally March to June.

The most recent example of a high double bottom like this was late last year (22/12 and 29/12) and that lead to the rally into the New Year, remember?

Not sure yet how that factors into my best guess for a low next week. I'll have to scrap that idea of a low and just say up we go into 180 on 2 September now.

We could have an 18 day rally from here which would mean we start up again tomorrow give or take a day.

Cheers.