Elixium

S&P 500 / Odds of a full blown correction soon are high

Short
FX:SPX500   S&P 500 Index
- The market has made a triple top in the lowest portion of the 2011 Pitchfork and has challenged and failed 5 times at the 2120-2140 region
- The US30 has made a series of lower highs and it's moving average profile is weak.
- Earnings season overall looks weak ( Apple , Microsoft , IBM , Yahoo etc.)

Comments

what about CMG AMZN (last two qtrs) FB GOOG?

Anyway good insight in this post but I have the opposite view, I think this range breaks up. Gut feeling-wise, sentiment-wise, all the tiny corrections in this range have felt and acted more like bear traps than the fake breakout attempts felt/acted like bull traps.
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Elixium SPYderCrusher
Checkout the symbols US30 + NYA.
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