YaKa

SP500 repost - Needs to go below 2080 to follow the track

FX:SPX500   S&P 500 Index
466 3 6
1% lower and it could fall.

Above 2080 it is objectively supported/bullish.
What you are predicting is an exact replica of 07-08, is it not? The formation looks exactly the same.
-1 Reply
Post earnings season and a calm down in the bond market coupled with a calm down of the euro-crissis, I think that speed line comes in to play around 2140. Does the ES get to the speed line in a "pop" or in a slow grind I do not know. It does make sense to look at the NQs breaking out of a 15 year consolidation. I have been very bearish but I believe that this market clearly wants to go higher although it will be volatile.
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I respect your chart and learn a lot from them. But it seems like you are too married to the idea of bearishness these days with your most recent charts.

Why fight the tape? Why not see it as it is: bullish, UNTIL proven otherwise.
-1 Reply
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