Daily Archives: August 31, 2015

Using SPY for the US market and EEM for general Emerging Markets, I’d like to illustrate what I think may be in play on the short-term.

SPY shot up to the equivalent of our first S&P 500 target around 1980.  This was based on lateral resistance (not shown on the chart below) and a 50% Fib retrace.  We also have an ultimate potential upside (corrective) target equivalent to SPX 2040.  That is the thick red zone on the SPY chart below.

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