Brukks

SPY Bullish Short Term Alt

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
Put up or shut up time for bulls. Find the stops. Drive it up on some dreams, clear those 50dma stops later this month, print the hanging man monthly candle. Bears take this thing down in September. Break of 433.8 (current low) will take us to low 431 area which is likely last stand for the bulls before a major (accelerating drop). Let's see what happens when these yields start to rally, most see collapse, I see a sign of a bullish economy with a steepening yield curve - for now ;) - but what about those banks holding the toxic debt? Not sure.
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