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July 25th, 2013: $NYMO vs SPX Study

Posted by pugsma on July 25, 2013

1:15 pm EST:  A look at the $NYMO vs SPX over the past 2 years, shows something very interesting.  During a key market bottom the $NYMO became extremely over-sold below -80 and dropped below the lower BB.  Next the $NYMO would make rapid strong move up to over-bought above +40.  The  $NYMO would settled back between 0 and -40 breaking the lower BB as the SPX made a small correction.  From there the SPX would take off into a 3 to 4 month  bull run.

We have very similar scenario in the $NYMO vs SPX going on right now with the $NYMO reaching below -100 during the June SPX correction to 1560.   The $NYMO then advanced rapidly to +70 as the SPX reached 1699 and the $NYMO has really since fallen quickly to +8.  Assuming the $NYMO sinks a little more to the break the lower BB at -8, it is possible the SPX is really for another significant 3 to 4 month bull run.   In this very bullish scenario, the move up to 1699 would only be wave minor 1 of major [5]-P3-C1 and this current correction minor 2.   This would mean that minor 3 of the major [5]-P3-C1 is lies ahead and the SPX could rally to well over 1800 into the end of the year.

PUG $NYMO vs SPX Study 7-25-13

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