Sentiment 9/2017
In March this year, in the same section, we had expeted for the SP500 a final target of 2500 pts. even though it can be reached with two different ways.
In support of our thesis we attached two graphs.
Today we are at 2538 points, achieved after a period of slight decline and an acceleration following Trump's election.
Let us use the same graphs as in the March report.
The SP500 index:
has reached the price area 2558 particularly significant as it coincides with the dynamic resistance of a bullish channel.
Overcoming this new barrier would open the way for a new, much wider channel, which would lead to a 3100 index with market times.
There is, of course, also the possibility of a significant retraction, considered the importance of the area and the ways of achieving the target.
The Sentiment indicator:
it measures investors' greed and we are at a top achieved in coincidence with the maximum of the index.
We are moving on tops in almost all major indexes, but we cannot rule out further surprises from the market .
The MQ Idx Indicator:
we have already mentioned it in another report.
It is a proprietary indicator that has excellently absolved its predictive function although sometimes with one / two months of delay as the data is processed every month.
For clarity, we highlighted the most significant turning points.
At the end of September the indicator and its two mobile averages turned down, but it will be decisive to check when the fastest average crosses the slowest slope and then the downturn of the indicator.
10/05/2017
Giorgio Giovannoni
 Indicatore macro USA.pdf | [ ] | 118 kB |
| Indicatore sentiment USA.pdf | [ ] | 213 kB |
 SP500 monthly.png | [ ] | 160 kB |
