more broadly about the current correction on the SP500 Index

hello,

Looking at the chart the SP500 Index, for the period of the last three days it's hard to say anything clever about how it should behave in the next few days. However, I am a person who does not give up easily. I will try to introduce you to my point of view what is currently happening on the chart.

First, I completely NOT accept that this is the end correction. You can read about it in my earlier entries. Therefore, I will not be looked for starting an uptrend but I will try to find where is the potential end correction.

For a better understanding of my analysis, the first will put the chart :)

chart 1. fSP500 Index M15, 2014-04-17

Here we go.

As you can see, I thought that the market had drawn a built-in correction ABC. Correction, which was shown inside the correction marked with a green color shows that it was a so-called correction. slightly hurtling. Then he was drawn with another wave of ending the entire formation correction.

I think it is worth spending some time about the sharp increases that occurred twice. I hope that without fear you will find them on the chart.

A few days ago in the media quite a lot of attention devoted to the upcoming publication of financial results of U.S. companies may give disappointing results. The reality turned out to be slightly less pessimistic than previously assumed. What moved the strength of the SP500.

Good results showed primarily Citigroup: EPS: $ 1.30; expecting 1.14 USD. What shows that the banking sector can have another successful quarter.

Coca-cola also showed better results than expected. Net operating profit amounted to 10.58 billion USD, compared to consensus of 10.53 billion.

Intel: Earnings per share in the first quarter was better than expected (38c vs. 37c); revenue totaled 12.76 billion to 12.81 billion expected. For the next quarter Intel announced revenues of $ 13 billion by typing in market expectations.

Returning to the chart. I recommend taking a short position with a stop loss above 1856.6 points

regards,
oscarjp

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