The NYA is still above the monthly A up. This selloff is to be bought although not yet. The NYA is the New York composite which is all the stocks listed on the NYSE so it's a very comprehensive index. I think 1290 to 1300 will be a great level to get long the spoos.
Agreed, just thinking about when that takes place. I'm trying to make sure that I don't get too predictive, just want to make sure I'm ready to react. Hope everyone's having a good week.
Here's what I am watching in the next couple weeks. There are some bullish patterns setting up and I think we are likely to setup for a rally into the fall. Here's a neat chart for all you technicians...this pattern is a bullsih one!
The US dollar is headed lower today. While it seems to want to drop some, it found support over the last few days at the qtr level, (it has a confirmed qtr a up). Crude off the lows, (after a move like the last two days it had to bounce somewhat). Ultimately I don't think this is the spot to re-short. I think we may get better chances next week, (course I'm sure there might be a trade somewhere between now and then).
Approaching that 148 level again in bonds. I'm dead serious about this, one day they are going to take out that level for good. I'm serious. I really am.