SPDR S&P 500 (SPY)

[BuzzOnDaBeach]

Are you familiar with the BB Squeeze indicator? It is based on bollinger bands becoming compressed inside the Keltner channel. A BB squeeze began on 10/29 and broke out to the upside today. BB squeezes ususally signal strong moves in the direction of the breakout.

For every bearish scenario you want to present, and you've presented many over the last 2 months (Prechter is now on like his 10th alternate bearish scenario), there is an opposing bullish. Dow theory buy yesterday, bb squeeze breakout today.

There is never "one" scenario, always a bullish and bearish case. Important to look at both and decide which has more going for it.

Retrace due early next week then up through end of year.

Buzz