Courtesy of Chris Kimble.
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S&P 500 tops in 2000 and 2007 took place 91 one months apart. Did another top take place 91 months after the 2007 top. So far it looks very possible.
If you double that time frame, you get 182 months. What is the odds that the NDX 100 topped 182 months after the 2000 high, at the SAME price it hit in 2000?
We applied monthly momentum to the charts above, reflecting that momentum for the S&P is back at 2000 and 2007 highs and turning lower and the momentum for the NDX is back at 2000 levels.
Joe Friday Just The Fact…Both indices have traded sideways the over the past year plus. If support gives way of this sideways chop, the S&P 500 could find itself testing the 1,600 level. Sideways support is the key, which is still in play.
If billions of free thinking people break this support, they could do damage to the 5-year rising channels! See channel support HERE
Full Disclosure- Premium Members are short the S&P and NDX due to the patterns above.
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