I have stated my thesis repeatedly on elitetrader and been called several names in the process. The more names I get called, the more I know I am right. Elitetrader is one big contrarian trade where the crowd always seems to get faded.
- Short term price target is 1430
- Long term price target is 1130
- The SPX would never get over the right peak of the 7 year long cup. It did oh so slightly then retreated fast.
- The pullback will most likely be 50% of the height of the cup which is about 1130.
Mark this post MichaelScott haters!!!
