Yesterday the S & P 500 just had to overcome the resistance of the 2,215 points, and did so by more than 20 points. I said that my goal is the wraparound top, so fromnow on forward there is no more resistance and today we are going to take a look at TLB charts that often us give clear clues when start signals of buying and selling.
As we see in the first chart, yesterday a new buy signal was generated for the S & P 500.This occurs when it is exceeded the third box on the basis of closing prices. Now, we would be a signal to sell only below the 2,189 points. In addition, a movement is usually a pause and then sometimes turns on after 6-7 boxes. So now we're in a bullmarket. It only lacks the Nasdaq 100 generate its bullish signal. That will happen with latches above 4.875 points. Yesterday, closing is not shown so we are now just 25points to get it.
But the Nasdaq 100 is not alone. It also lacks confirm to the Dow Jones Utilities Index. The rest of selective going very well. Especially to Dow Jones Transportation, which yesterday marked a new record high. If you see your chart, we see carrying with an uptrend already since some time since early November it generated its signal to buy.
on the closing price of yesterday, the DJT is placed above the maximum of the year 2014,and this leaves us way to continue to rise. Count the number of white boxes that has been accumulated. I have already said, that usually occurs a change of trend or a correction when constructing the seventh box. However, here we see that it has many more.
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