The following chart belongs to the new version of that index. This modified P-Index contains an additional sector and all of its coefficients are adjusted accordingly.
I have been following this new index for the last few weeks and it was another reason I called 850 area intermediate top. It doesn't matter whether SP overshoots 10 or 20 points above 850, we are forming an important intermediate term top here...
The last two weeks were gift for me, I was able to optimize my positions for the next leg down that will likely end 40% below where SP is today. of course this will be obvious to the masses in coming months once SPX takes out 720.
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