Market Timing Brief for the SP500 Index Close on 2-14-2014: Post Valentine Kiss of the Top?

A Market Timing Report based on the 2-014-2014 Close published Saturday February 15th, 2014

The SP500 Index (SPX, SPY) held the second level of support pointed out two weeks ago and bounced strongly.  Very likely TOO strongly.  We are almost back testing the prior high and that could send us back into another deeper correction sooner rather than later.  That’s the “Kiss the Top and Go Down” scenario.  The white line near the top of the chart below is the next target if the prior top does not hold the rally (target is at about 1888 right now).

But those are just two possibilities.  Please review the other possible scenarios for the next few months including where the next correction could kick in.  The chart posted there tells the story.  You can access my thoughts after getting the password here: Free Subscription to My Newsletter and access to my latest comments  I’ll send you back the password to the access page and the monthly newsletter in the same email.

Here’s the SP500 Index Chart:

sp500-index-market-timing-chart-2014-02-14-close

Will it surpass the last high or kiss the top and die?

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Look for updates on the main chart tracking pages this week as I feel they are needed and comments via Twitter.

Copyright © 2014 By Wall Street Sun and Storm Report, LLC All rights reserved.

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