Charlie Anderson's  Instablog

Charlie Anderson
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I am currently a student. I use a mix of technical and fundamental analysis to arrive at investing prospects and then do in-depth analysis.
  • Market Tracker, 6-27 0 comments
    Jun 27, 2010 7:29 PM | about stocks: SPY, LPHI

        It looks like the breakout of the last few weeks was a head fake. The market proceeded to strongly break down back into its previous range. However, the hourly S&P 500 chart shows that the market bottomed on Friday. It looks like this base is taking a very long time to form. At this point I wouldn't be surprised to see the next up segment last until around the end of August. Then a definitive top will form. September and October are usually months of carnage in the markets, and my medium-term perspective is seeing a strong correction during those months. Until then I'm bullish.

    Disclosure: Long SPY, LPHI

    Stocks: SPY, LPHI
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