Following chart is the snp crossover technique, as I draw it, from Joanne at Wollie World. It still indicates unfilled targets above the market. Time will tell.
Tuesday, April 6, 2010
2CS and SnP Crossover
It's been awhile since I posted these....first Tom Drake's 2cs indicator of sentiment. You can see it is hovering above the logarithmic trendline, much like it did from 2004 through 2007. We shall see if the markets continue to react in the same fashion as they did then.
Following chart is the snp crossover technique, as I draw it, from Joanne at Wollie World. It still indicates unfilled targets above the market. Time will tell.
Following chart is the snp crossover technique, as I draw it, from Joanne at Wollie World. It still indicates unfilled targets above the market. Time will tell.
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3 comments:
Moorso,
Thanks for posting this additional information. All I can say is the bull market keeps on rolling. Until otherwise proven, I'll keep hedging the tidal downswings and be long and strong the upswings... Which brings me to tomorrow, WWW and the next tidal high on Thursday. Although WWW brings additional volatility into the mix and cvan be a trend reversal, I'll stick with the tides and a continued uptrend into Thursday. I also think it will be more of a dump and pump short-term reversal around Thursday on the way to further highs. It is still that everybody loves to hate this rally and is disgusted with the stock market. BTW - do you have a timeline for the target of around 1400-1500 for the S&P500 as per your chart? I am similarly bullish and expect new ATHs for the Russell2000 index this year.
Joe
Yep, everyone still hates the markets. No one talks about it, almost like it doesnt exist. I'm looking at late August possibly for the 1,400 area with a small reaction in May and July a possibility. We may have to accelerate to get to 1,400 by August, but that would certainly shock everyone and keep them all out of the market during the summer months. As the saying goes, its a bull market till it aint one. :)
This tidal downswing could actually work out before another blast-off. Tides are amazing... and can't wait for another post in your blog... ;-)
Joe
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