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  • Maybe the S&P Can Break 960 [View article]
    one eye,
    can you say 'whip-saw'? not all golden crosses bear fruit. Take April 2002 for example, that golden cross didn't end well. In addition, note that the rally of late '01/early '02 saw some actual correction periods, normal and healthy market breathers. As opposed to our current, taxpayer-sponsored, rally which did not experience significant pullbacks, this propping up created this 'artificial' golden cross. I believe it is a nasty trap, set your stops and be ready to go short.
    Jun 28 17:59 pm |Rating: 0 0 |Link to Comment
  • Maybe the S&P Can Break 960 [View article]
    Bill, in my opinion this just isn't going to happen. Market is looking very weak on many fronts. Dow, S&P, Emerging Mkts, all putting in bearish head and shoulder chart patterns. Simultaneously, the VIX has interacted with a 3yr trend line which has previously yielded 44%, 105%, 93% and 370% rises in the VIX in the following 30-90 days. We gap down monday, the next test of 880 will complete the H&S and 880 will not hold. Collect your rally gains, and soon.
    Jun 27 10:38 am |Rating: 0 0 |Link to Comment
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