SPDR S&P 500 (SPY)

[2bit-nothing]

Hi you

"I guess the vix will go to 10 by then!"
VIX only has to stay around the twenties and besides it is not useful anymore as contrarian indicator.
"Do you have a time frame on that target."
No. But you can approximate using T Theory.
"And are you sure there is enough evidence to support that kinda rally?"
Only death and tax are sure. You can use cumulative A/D for one.
"Do you really think they can sustain this straight up action?"
Who said anything about straight up! But the target is no big deal considering the drop we had in 2008 and beginning of 2009.
"In my opinion all we need is a couple of well respected people to be calling for the same target on CNBC, and the reversal will be confirmed and down we go..."
I won't listern to CNBC. As a matter of fact starting the day
I shut off my ears to the gurus my trading improved tenfolds.
"Support needs to be tested and these overbought conditions on the McC Osc, and summation index need to be corrected."
Nothing needs to be retested, it is only in your mind. MSC is over sold, not over bought.
" That would be a 90% rise from the lows...i just do not see it coming together like that...but anything is possible...and i appreciate your take on it. "
I just trade what the market tells me not what I think it should happen, right now the new high indicator pops out and I have to go along"

Good luck

2bit