In my last post I had mentioned that S&P will hit 1500 by January 25th. It hit on January 24th. In fact I have been mentioning about 1500 target for S&P since August -September of last year.
In my post of September 9th, 2012 post , which you can read here
I had also mentioned that S&P will head towards 1525. On last Friday January 25th, S&P has closed at 1503. Now, either on Monday January 28th or Tuesday January 29th, if S&P crosses 1508-1511 then S&P will sail towards 1525 which is high probability.
This should hit by no later than February 14th. After 1525 S&P is expected to pullback towards 1500 and if it continues downward (correction) then it can drop as low as 1460-1465.
After dropping to 1460-1465 S&P should start rising again and not only take out 1500 and 1525 but is expected to cross 1576. It is however too early to say what S&P will do, as only God knows what S&P will do in future. For now I am concentrating on 1525 target.
There are some bearish divergences developing in the market, however, it does not mean S&P will not go to 1525-1530.