Today was an inside day on the US Equity indexes. Up to now the 1st 2 weeks of the months have rallied, but momentum has slowed and now we have an inside day during the move-up. Meaning? I say we break back down 1 or 2 % then back-up before we break harder and lower the 3rd and 4th weeks of FEB.
SPOOS clearly telegraphed a move to 1000 is in the works as a measured move from 1150 to 1075, 1075 to 1000, the probably 860- 900 as bottom for 2010. Time frame? Depends on the news but these are the levels, Low 860 high 1200 for the next 12 months.
Gotta love a board full of perma-bears during a bull market that's on its 11th month now. I can only imagine how badly ET collectively has been brutalized in equities The only bear I'd believe right now is a gold bear.
Um you still a believer after today's close? The VIX is back. dot.GOV is running outta money so support needs to be strategically placed. Sovereign debt is an issue. What say you now? I shorted today with money in the bank. I called my stuff in advance.
Gotta love the BULL tards who are going to be left holding the bag. The market hasn't went anywhere in 5 months. Look at the charts.
I'm not a "believer" in anything long term at the moment, other than the aforementioned gold short (which had a banner day). I don't have an equities index position one way or the other for that matter. But I don't believe equities are in for a big collapse in the long run. Every political and economic force you can imagine is arrayed against that outcome.