Well markets keeps grinding higher slowly and is beyond my target of 1350. So the outlook I have for now is that the markets is still very overbought and could roll over any day now - but there is a good possibility that they will do their window dressings done before. Time will tell the tale , but I updated a chart of what I think is forming and what I think is to come and expect.
The downside target of 1325 have now been moved up as markets has been moving slowly higher.
This means my objective target has been moved from 1325 to 1330 area - not much but possibility that we will be in the upper end of the 1320s which is near 1330.
So markets is sitting near 1360 now and a 30 point pullback in markets is to be expected in the near term.
On the charts you can see which kind of moves I am expecting with a pullback to the trendline in the pattern. This means markets should stop moving much higher here - and NOT go beyond 1370 - but hold below and possible we see 1365 --- but not higher than 1370.
After this pullback the markets should do a move higher to the 1370-1390 range imho which should end around mid May. The pullback should begin any day from now and last into early May. so I think any day from now to begin and then early next week more pullback.
Have a nice day
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