Bulls be Aware! 2245 SPX+/-5 is Major Long Term Resistance

By: Ian Thijm | Thu, Dec 8, 2016
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Forecast from my last public blogpost on 11/4/16"The 47 TD Cycle is still suggesting a 11/8 Low +/-3 TD"

From the 11/9 Update: "A solid close above 2155 SPX confirms the 11/4 major Low as the 180 TD/9 Month major Low and we now rally into the next 1-2 months"

Actual: The Cash SPX Low was on 11/4L at 2083.79 SPX, which was a quintuple time CIT, while the Globex SP futures made its Lowest Low on 11/8-9.

From the 11/22 Update: "it is best to use any short term pullbacks to add to longs and just be long until around 12/XX. There is a "Tunnel" Price target at 2239 SPX"

From the 12/1 Update: "There is long term trend line resistance at 2245 SPX+/-5"

Actual: From the 11/4 Low, we rallied so far a whopping 157.84 SP's in one month into 12/7H at 2241.63 SPX, which reached our 2239 SPX Tunnel Price target.

S&P500 Daily 1996-2017 Chart
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We have rallied into major long term major trend line resistance that started from the 10/28/97L, touched 10/8/98L, 3/22/01L, 3/19/02H, 10/11/07H, 5/20/15H, all major Highs and Lows! and now 12/07/16H at 2241.63 SPX. Of course it can pierce this trend line a little, but it suggests limited upside potential as 2242-45 SPX +/-5 should be major resistance.

Thursday 12/8 is a major long term proprietary Geometric Time CIT, that dates back from the5/2/11H. 12/9 is the next Solar CIT and the "Ezekiel Wheel" next CIT is on 12/9.

S&P500 Daily 2009-2016 Chart
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There is also a 45 week cycle due this 12/9/16 week that started from the 3/6/09L.

What's next: We should make a Dec 8 High+/-1, targeting 2245 SPX +/-5 and start a retrace, we should then retest these Highs at a long term projected future major High date.

 


 

Ian Thijm

Author: Ian Thijm

Ian Thijm BSc, MBA
Raj Times and Cycles

My first experience with the Stock-markets was during my MBA in August 1987, right before the 87 crash. Needless to say I fell in love with the markets and studied everything I could on Timing and Cycles in the Markets, including Gann, Bayer, Baumring, Astrology, Geometry, etc. Although I loved the markets, the markets didn't love me the 1st 7 years. Then I found a unique "Ezekiel Wheel" (Symmetry Point Cycle) based on the works of James Brock and in October 1994, I turned $5000 into over $112,000 in one month. I thought I had found the Golden Key to unlock all the market profits, but the markets again humbled me. I spent the next 7 years studying and researching various unique Time and Cycle methods. Then in June 2000, I met my Partner and I became a full time Investment Manager. Life, like Markets goes through Cycles and the next 7 years, I had the most valuable, enriching lessons in my life with Markets, People and managing Money. It was very enlightening. This brings us to the present day, where I feel the need to share and teach what I have learned and that is what this blog and website is all about. I hope it is worthwhile to you.

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