SPDR S&P 500 (SPY): You are right 2bit. You can't really...

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whereismyorange

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whereismyorange

Re: 2bit-nothing post# 103230

Thursday, 05/20/2010 1:45:42 AM

Thursday, May 20, 2010 1:45:42 AM

You are right 2bit.

You can't really say things have bottomed yet, but many indicators are oversold or at extremes. The CPCE, NYAD are at levels that signify reversals for the past drops we have had. I was expecting a small rally here, but we may just drop. I should look more to go short instead of long in this downturn.

Things are heating up in the forex/futures markets. Looks like more down. I have 1105 as being strong support. If that falls, I would expect 1095 at minimum.

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