SPDR S&P 500 (SPY)

[gumbie05]

Wow! I haven’t posted on these boards for almost two years! Nice to be back….

Just sold some SPY (short) at 475, 475.25…. building a short position. This looks eerily similar to Dec 1999 when the Dow hit new highs and the Nasdaq didn’t hit a new high until March of 2000. I’m keeping my eyes on the DXY as it’s blatantly obvious that that is what has been fueling both the equity markets and the bonds (ie yields dropping more than a hundred basis points in a month or so). If it (DXY) continues its decent towards 100, or below, I can see the Dow creep up a little higher but then struggle (at 38K) while the Nasdaq attempts to make new highs above 16K by March….just like in 2,000. Good luck to all!

- JMHO