SPDR S&P 500 (SPY)

[2bit-nothing]

Folks,

Thanks.

The result of the survey is

(1) SD/DEN/Snoot voted up
(2) Blash/Harley voted down
(3) YRT1 undecided

so it is pretty much 50/50 although the bias is on the up side.

YRT1, your range is too big like 400 DOW points and what do you do in between?

SD, your future chart clearly shows up from the trend line but will it continue? The "Evil" stuff is really evil, you always have 2 scenarios..."if only we have one-handed traders" if you know what I mean..

Harley, I think you voted D for down?

Denmo, can you elaborate and say a few more words?

Blasher, I hesitated whether I should show the arrows. They are not there to mislead. They are simply there to show local maxima as the second derivatives are turning, but as in the case of C, the 2nd derivative continued to decline as price increased causing negative divergence that eventually led to the huge drop starting April. The more negative divergence the bigger the following drop. Now all the other drops were quick and dirty and the market recovered. What I see here is a pending drop from the upward sloping bearish channel but the market can continue like in C and rise with negative divergence.

2bit