S&P Primary Cycles
Is there more upside in the S&P 500?
The current price action in the Primary cycles suggests that the trend should continue higher, as part of the 2014 yearly breakout and extend towards the 2015 highs.
As we can see in the above chart, the trailing support (Yellow) provides the ideal zone to enter the market, and if the trend is going to continue higher then the APRIL level becomes the zone to keep an eye on.
That level will be confirmed after this week completes and we move on the other side of Easter.
Therefore if there's continued weakness this week, then 2009 is the BUY zone, and then April comes into play next week.
(Read Australian Market Report)
