the moment of truth has arrived, page-2

paddington

it's feels like a lifetime along that i made that forecast re: the 90 week ma. the market has since done much to make me doubt that target was possible, but here we are.

some of the longer timeframe moving averages that i use has me a tad concerned. their current position indicate that the probability of new highs anytime soon is low.

the last two occasions they were in similar positions was apr/may 2001 and after the 1987 crash.

as we know, may 2001 was a minor high before the eventual collapse into the september low.

after the 1987 crash, price did a dance between the 90 dma and the 90 wma for about a year before it eventually broke out which coincided with the 90 dma finally crossing the 90 wma.

btw - the 90 dma and 90 wma is just one of my wacky tools. i don't know how i came to use it. :)

fwiw - my current read of the weekly for the spx also matches yours - 1450-1460 may be possible. however, we're so close to the next lot of turn dates, i'm not sure if that's being too optimistic given yesterday's performance on the spx.