DOW S&P Monthly
Double top high in the 2nd quarter has failed to materialise with Friday's close above the April highs in the DOW.
There is still 1 week to go until MAY begins, but at this stage the target of 1230 in the 2nd quarter for the S&P 500 is going to be reached much quicker than I expected.
DOW S&P Weekly
The entire double top scenario played out accordingly until Wednesday's failure to continue down into the 5-day lows, and with Friday's close above the 5-day highs this is likely going to push the Markets upwards on Monday.
Based on the Weekly timeframe & range, it might take another 2-weeks until 1230 is reached as price remains within the 5-day range.
There is still a slight chance that the 3-week lows are tested before 1230 is reached, but price would need to be trading below the weekly 50% level.
Daily report out on Monday.
