S&P again, update.

s&p 1 sept 2012s&p 2 sept 2012

S&P 3 sept 2012

Different charts show different pictures depending on how the values are calibrated on either the x or y axis, or in relation to each other. Also some charts show every move on the day, others only closing values and so on. So here is the S&P (SPX). 3 times.  The high point is at about 1450 once the trend line is reached. Obviously a throw-over is always a possibility but, for the sake of argument let us assume perfection. The S&P is presently at about 1435 and the Dow has already marched on to a new post crash high. So is the DAX. Most other indices are still well below previous levels and certainly not within 7% of their all time highs. Over the next few days we will have a QE3 announcement, the German Constitutional Court pronouncing on the legality of the ECB plan, Dutch elections, more fuss over Greece and perhaps a few additional infusions of stimulus by China and India. All this should be sufficient to add the needed 15 points but the big question is if it will stay there.