reluctantplumber
Short

Long Lines on the S&P

INDEX:SPX   S&P 500 Index
174 2 5
While many of us are short this market, we must be honest with ourselves and ask - "is there any real reason to believe that the S&P             can't go higher?" Will we ever again see S&P             below 1800? Hard to imagine that we don't have a pull back soon, but the black channel stands strong.
Comment: The long lines are still in play
Comment: S&P still coloring within the lines
Likely we test the red channel - The shorts are rejoicing - until we start testing the green...
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SPX has broken the bonds of the Red channel many times now - my personal opinion is we test the bottom rail of the green channel before a meaningful change in sentiment can begin.
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