Data
I drew 2 trend lines that start in 2008 and 2011. Spy fell exactly to the trendline from 2011 and when we look close the behaviour between 2011 and recent decline is very similar. Rise of Volume, BB% in extreme -0,69 and Indicator which tracks market bottoms created by Lazy Bear is behaving very similar to 2011. Santa Claus rally is waiting and it seems most of bank, fonds and financial institutions don't want to miss this opportunity to make money.
Direction
I personally assume the Spy will go up to 205. Anyway U.S. ECONOMICS seems like it´s not in good shape compares to others. It´s growing thanks to massive support of FED but the recent downright dismal September jobs is alarming that he economics is growing not because it is healthy but because it is supported by FED.
Personal observation
Also the situations is a little similar to 2001/2002, when internet firm´s were blessed. When we look closely what firms recently lead the world it´s internet firms again.I don´t say it is the same situation. Succeed on web is really hard and historically Internet business leads to monopoly - Google, Amazon.
I drew 2 trend lines that start in 2008 and 2011. Spy fell exactly to the trendline from 2011 and when we look close the behaviour between 2011 and recent decline is very similar. Rise of Volume, BB% in extreme -0,69 and Indicator which tracks market bottoms created by Lazy Bear is behaving very similar to 2011. Santa Claus rally is waiting and it seems most of bank, fonds and financial institutions don't want to miss this opportunity to make money.
Direction
I personally assume the Spy will go up to 205. Anyway U.S. ECONOMICS seems like it´s not in good shape compares to others. It´s growing thanks to massive support of FED but the recent downright dismal September jobs is alarming that he economics is growing not because it is healthy but because it is supported by FED.
Personal observation
Also the situations is a little similar to 2001/2002, when internet firm´s were blessed. When we look closely what firms recently lead the world it´s internet firms again.I don´t say it is the same situation. Succeed on web is really hard and historically Internet business leads to monopoly - Google, Amazon.