SPDR S&P 500 (SPY)

[Footquarters]

re indicators

Noticing that Bears are/have pretty much given up, turning bullish, by covering or buy buying the market(bearish for the market in my opinion). Right now the price is above the 320/100/20 so a bullish stance is where the market stands. For the Nasdaq the question is where Semi's can stay above the 320 SMA. If the Semis end up down today under the 320, it would energize the bears...., the Nasty 100 rally would/may be done. Right now the Sox has no follow through so put that on your alert screen. Funny how HD missed and they pushed it higher... The Fed loves pushing things to bubble levels. Then backing off. If this is the same market as 2000-2001 then da boyz will take them down on Jan 2......after their bonuses come out.