I believe we have one more pullback in this current rally and then one last surge, but that may or may not be the case.
The first week of March is a major Bradley turn date. That is the main reason I suspect there is one more big pullback and one last surge remaining in this rally.
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Key Levels
Upside -- 1311
Downside -- 1274, 1258, 1241, 1234, 1214
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SPX Daily;
Our old wedge is broken to the upside, but without much power and follow through. So I had to back out to a 10 month chart from a 6 month and we find the last downtrend line here that is currently sitting about 1311.
I think a false break of that trendline north sometime in the next 1.5 months, followed by a fast and furious reversal. (Preferably intra-day reversal) It could happen soon or we could go through one more pullback here followed by the last surge.
This will be a major top.
There's not much else to say right now, other than I expect us to touch and most likely exceed that downtrend line in a fake breakout before we truly reverse and begin the big wave 3 down that will finally end the global government ponzi debt bubble.
GL
CJ
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