SPDR S&P 500 (SPY)

[RAVINASA]

Foot/Gleno:

Here's my concern:

1. SPX Monthly MACD 12,26,9 is -ve and if it stays -ve next
week we are in trouble as it confirms a down trend.

2. BKX is below monthly ema 50. Last time it happened in 2002
2003 time frame, it stayed there for 8-9 months.

3. Also, BKX monthly MACD is turning south dramatically.

4. With BKX being 20% of SPX, we need Saudi Prince Al-Waleed
(4% owner of Citigroup) to infuse enough natural gas, oil,
and pillsbury or greenback dough to prop SPX MACD up to
get it in the +ve.

My two cents. Looks like I am joinng Gleno bear camp.

Regards.