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S&P 500 Still Aims Higher Through 2014.5 Peak for 2020.0 and 2028.5

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S&P 500 Still Aims Higher Through 2014.5 Peak for 2020.0 and 2028.5

S&P 500 recovery trend intact

·         A dip and strong rebound from just below support at 1962/61 (from 1959.25) to maintain upside pressures with a bullish outside Thursday pattern.

·         Having hit our targets at the swing highs/ retrace at 1968.5/ 1971.0 and highs in the 1978/79 we stated that “we see risk still higher this week maybe for 1992.5 in late October”.

·         The push already through here and 2000 aims higher today and into early November for a retest of the 2014.5 cycle high.

·         Above sees extension targets at 2020.0, 2028.5 and 2035.25


·         Below 1959.25 eases bull risks; through 1944.5 signals a neutral tone, only shifting negative below 1922/20.

See full report with levels & latest screencast here:  

4 Hour S&P 500 December Future Chart



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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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Holiday and cessation of service: 7th-23rd August 2017

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The last report will be on Friday 4th August, with service resuming on Thursday 24th August.We wish you successful trading in our absence