What is to stop the S&P from hitting 1500 as it did in 2000 and 2007?
From a Resistance standpoint: not much
From a Elliott Wave standpoint: it's possible but not probable
From a Fractal standpoint: its doesn't look good -->
http://imageshack.us/photo/my-images/812/theartoffractals.png/ (the top chart is what the market looked like in 2007 before it collapsed, while the bottom chart is what the market has looked like since 2009)
From a Dow Theorem standpoint: transports are lagging the broader market which has 'usually' defined tops in the past
From a underlying technical standpoint: there is many negative/bearish divergences in multiple time-frames right now which define tops
From a global market standpoint: The US market has officially disconnected from almost every other global market which are still below their Feb 2011 tops. At some point, either the global markets will play catch up to the US or vice versa. Either way, a large move in global markets is about to occur
From a contrarian standpoint: Bernanke was just featured on the cover of yet another major magazine for saving the world. Same thing happened in 1999 with Greenspan and that marked the end of the dot com bubble
*keep an eye on Apple since it is the main reason why the US markets are outperforming the global markets right now given how big it has become. when Apple tops and it is very close to topping at the moment after officially going parabolic, so too will all US markets. -->
http://imageshack.us/photo/my-images/163/aaplbubble.png/Are there any resources you could suggest on fractals? Are those fractals on the S&P chart specifically related to Elliot Waves (I just did a quick googling and found a site that spoke about Elliot wave fractals)?
Also, a suggestion, it may be easier to find which chart is from which if you put the list of charts for each date on the front page and updated that as well when you sent out charts.
