djflowmaster
Long

SPX (Weekly Chart)

SP:SPX   S&P 500 Index
363 1 6
Looks bullish still on a long-term basis........as long as SPX             holds 2 major bullish trendlines then the mkt. still looks overall bullish ......the 1st one being the intermediate trendline around 1940-1950 levels and the 2nd one being the long-term bullish trendline from the start of the 09' macro bull rally.......if it breaks the intermediate trendline to the downside then it is a risk-off approach until a big reversal day happens in the markets.........if it breaks the long-term bullish trendline then all risk-off mode continues and add to shorts or hedges as we may be in the start of a 10-20% correction.......as always watch volume for confirmation
if you use log-scale the trend line is very different...
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