I was hoping for a pull back this week to add to my long position. However, looks like more upside, I suspect if Brown wins in Mass. tomorrow may continue the rally to new 52 wk highs. I would think longer term we are due for a major pullback.
The Q charts are mostly bullish, the Daily has a bearish MACD (12,26,9) However it is above the zero line. The weekly chart has a bearish PPO (3,8,4), it is also above the zero line. The monthly chart is getting some what OB.
The SPX charts are more bullish. The only bearish indicator is the Daily PPO which is attempting a bullish crossing. The weekly chart is getting pretty OB and the monthly chart has room to the upside.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
