![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Thursday, August 12, 2010 7:36:45 PM
Any technician knows that a gap in either direction of a trend is market strength. And just today, August 12, the market gapped down, which means we can kiss the 109.12 level good bye. The market will need a miracle to fill this gap. And I am not sure if anyone is aware of this, but the market performed a beautiful double top which is a very bearish signal. We are taught that double tops are reversal patterns, but they can also imply bearish continuations as well. Not only that, the market just cant break free from its 200 MA (even though its traded a little above it). The heavier volume is to the bearish side, and the weekly top in april bounced down from its 50 MA.
In conclusion:
Brace yourselves for another roller coaster ride to south side!
I'm well prepared with put options in FAS, SPY, XLF, and XLB.
are you?
Recent SPY News
- Form N-30D - Annual and semi-annual reports mailed to shareholders [Rule 30d-1] • Edgar (US Regulatory) • 05/30/2024 05:11:58 PM
- Form 497 - Definitive materials • Edgar (US Regulatory) • 05/29/2024 07:34:56 PM
- Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public) • Edgar (US Regulatory) • 05/28/2024 06:12:34 PM
- Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public) • Edgar (US Regulatory) • 02/27/2024 09:08:56 PM
- Form 497 - Definitive materials • Edgar (US Regulatory) • 01/29/2024 03:40:28 PM
- Form 485BPOS - Post-effective amendment [Rule 485(b)] • Edgar (US Regulatory) • 01/26/2024 09:50:00 PM
- S&P 500 Expected to Be Volatile This Week • Finscreener.org • 12/11/2023 10:21:00 AM
- MCD Stock: Is McDonald’s a Good Buy Right Now? • Finscreener.org • 12/11/2023 09:55:00 AM
- S&P 500 Index: Should You Expect a Santa Claus Rally In 2023? • Finscreener.org • 12/04/2023 10:15:00 AM
- Uber Stock Spikes On Its Inclusion in the S&P 500 Index • Finscreener.org • 12/04/2023 09:59:00 AM
- Form N-30D - Annual and semi-annual reports mailed to shareholders [Rule 30d-1] • Edgar (US Regulatory) • 11/29/2023 08:08:28 PM
- How Does ETF Investing Help Create Long-Term Wealth? • Finscreener.org • 11/27/2023 10:07:00 AM
- Can Tech Stocks Continue to Gain Pace This Week? • Finscreener.org • 11/20/2023 10:43:00 AM
- Will the S&P 500 Index Move Higher This Week? • Finscreener.org • 11/13/2023 09:54:00 AM
- Meta Stock Slumps Despite Beating Estimates • Finscreener.org • 10/26/2023 10:12:00 AM
- The S&P 500 Index Likely to Remain Volatile in Q4 of 2023 • Finscreener.org • 10/02/2023 09:23:00 AM
- Will the S&P 500 Gain Pace in the Final Week of September? • Finscreener.org • 09/29/2023 10:22:00 AM
- Will the Tech-Sell Off Continue This Week for the S&P 500? • Finscreener.org • 09/11/2023 09:46:00 AM
- Macro Indicators On Radar for S&P 500 Investors This Week • Finscreener.org • 09/04/2023 10:01:00 AM
- Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public) • Edgar (US Regulatory) • 08/28/2023 08:33:01 PM
HealthLynked Corp. Announces Second Quarter and First Half 2024 Results: Continued Cost Reductions Set the Stage for Strategic Shift to App-Based Technology Services • HLYK • Aug 16, 2024 8:00 AM
PickleJar Announces Official Name Change and New Ticker Symbol • NREG • Aug 15, 2024 2:23 PM
VAYK's Q2 Profit Added to Accumulated Net Profit of Over $2.2 Million In 18 Months • VAYK • Aug 15, 2024 9:07 AM
Swifty Global Reports Strong Q2 Performance and Prepares for Major Exchange Uplisting • DRCR • Aug 15, 2024 9:04 AM
Mayback's Global Entertainment Signs Global Distribution Agreement with Children's Media Studio • AHRO • Aug 15, 2024 8:45 AM
POET Technologies Reports Second Quarter 2024 Financial Results • POET • Aug 15, 2024 8:04 AM