I love my banana.
Now the Fibonacci Monkeys are going to be chasing the 200-day Moving Monkeys and we’ll eventually get overbought.
The SP500’s immediate term resistance is 1,018 (a higher-high, and YTD high). After I we watch the monkeys fling’em at that line, we’ll make a new call from there. Provided that the US Dollar continues to be compromised, my intermediate term level of 1,041 resistance has every reason to be realized. The nightmare scenario for those who tried to call a crash again (AFTER the 4-day correction), is a SP500 futures picture of up 10-15 handles in the morning.
Keith R. McCullough
Chief Executive Officer