SPDR S&P 500 (SPY)

[wingsneck]

Thanks Rainbow: The R3 will make anyone look smart (including me). I've been following these boards for years reading and learning. Only recently have I felt that I can contribute to Foot's think tank here. So I'm getting a kick out of your email asking my opinion. I'm flattered.....I'm not aware of anything opposite of the R-3 to the long side. I basically try to use the Nocona system (from another IHUB board) for entries and exits and keep an eye on the R-3 to help me avoid the landslides.

How far up? I don't know. One of the gurus I pay attention to (and he was a bear for the past two months) has turned bullish. The volume down is drying up, he's predicting a nice run. He did point out that we'll still have some good down days but that the direction is up again according to him.