Even though the price target has been reached, there still is plenty of time left to rally.
The "Time At Mode" process involves counting 17 months of time at one price as shown on the chart around the 207 level. The measured move involved the range of price action around the 207 mode, which was 214-181 (rounding off) and then adding that range to the mode to show an implied a rally to 240 (207+(214-181)) which we hit last week on Tuesday.
The rally only has consumed 9 of those 17 months, which leaves 8 more months to rally and potentially peak out at a 20% "bull market" reading around the 252 level by year end 2017.
My major point before the election was that 207 was massive support from a variety of perspectives, including my proprietary "Range Move" indicator which flashed a very reliable 'bear market complete' signal at the low in early November. Recall that at least 4 of the top stock market Guru's were advising to be completely out of the stock market and concerned about a crash through the spring and summer last year. I don't want to name names, but let's just say they are billionaires with names like "Stan Druckenmiller, George Soros, and Bill Gross" amongst many more. The idea that they were heavily short the market helped to put in a bottom at that time and the short-squeeze that has occurred from that level then makes a ton of sense.
My other indicators include the also reliable "VIX RETRACEMENT SUPPORT" levels which were essential to defining the pre-election selloff as a key-support-level and low for the "sideways bear market" of 2015-2016.
What we have now is a fantastic "measured move rally" that has hit its target with plenty of time remaining to do more damage to the bears. There no guarantees in life, so don't blame me if I end up being right, or wrong for that matter.
Any questions? Please consider asking in the Key Hidden Levels chat room.
I hope you enjoy the analysis and the reasoning.
On chart more info: http://ift.tt/2nNzH3Q
Submitted March 30, 2017 at 11:41AM by FB_XIII http://ift.tt/2of8h7X
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