Seth Warner's  Instablog

Seth Warner
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An independent global macro analyst with 40+ years' market experience and a subscriber base for his publication "Before the New$," now in its 10th year. Also publishes the free monthly slide show "Buy low - Sell high" and "SPYmaster II," a trading service covering the S&P 500 via SPY, the... More
My company:
Warner Financial Select, LLC
My blog:
Before the New$
My book:
The Little Green Book on the Stock Market
  • S&P 500 Seems Likely To Test 2007 All-time High 0 comments
    Jan 23, 2013 6:38 AM | about stocks: SPY

    Some thoughts about SPY.

    Our short-term algorithm SPYmaster II went long SPY five days ago at 147.92 just after SPY broke through its old 2012 high, a feat it had tried to accomplish in each of the five previous trading sessions. The chart pattern built since last September seems to be a quasi head and shoulders reversal which should take the market up to test its 2007 all-time high near 157. Fundamentally, it would seem as long as the Fed stays with its zero rate policy there should be ample funds on the demand side to make this happen. Then we shall see.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

    Stocks: SPY
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  • The recent breakout in $SPY seems to confirm a quasi head and shoulders reversal pattern that counts up to near its old 2007 high of 157.52
    Jan 20, 2013
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