s&p just made intermediate term top @ 1431.8

funny how when the buffoon rendick exited, you immediately picked up the pieces. doubt its a coincidence.

 

the market has little upside left. its on wobbly legs and wont go much higher than this.

 

Geez thorny, I juz don't wantcha to leave.

sniff...sniff...choke...we'd all miss you sumthin terrible if you lived up to your word...

 

So sell/mortgage the house and get involved. No way you could be wrong.

 

Never Happin.

 

don't have mortgages on any of my homes.

but i will start a new thread "the s&p just made an intermediate term top @.." when it happens !

 

The total market has not been under the 50 day moving average since August. In the early part of January, it briefly brushed against the 50 day line without crossing. Now it is back above the 10&20 day averages as well.

The total market could keep capituating higher and higher just as it did last spring until there is a breakdown. The main two factors, in my opinion, are oil and interest rates. I am curious to see what happens when the ten year breaks 5%.

In the meantime, I believe cautious long trades are in order with tight stops.

 

It would still be well below the S&P 500 forward earnings yield of 6.37%.

 

You have the right idea amigo, the s&p will not go much higher from here. I still firmly believe this will be a negative year for the s&p. take it to the bank.

 

So now you covered them after the fact at 1421 ? But if we dive from here you will still be short. I see all is still well in fantasyland.