Wednesday, April 27, 2011 11:33:52 AM
SPX Weekly Chart:
The reason I am posting this chart is I want to bring attention to the MACD. If you notice the MACD is on the bearish side and has been trending downward now for the past 9 weeks, however, the price is trending upward. The reason for this is the MACD is above the zero line so the pressure on the price is to the upside. This is when the shorts had better be real careful, it's almost like a typhoon(hurricane), they got slammed when it first came over and now they are in the eye of the storm, when the back side of this Bull market bears down the shorts will get HAMMERED.
This weekly Phase II could be setting up to last awhile and the upside could be very rewarding.
The reason I am posting this chart is I want to bring attention to the MACD. If you notice the MACD is on the bearish side and has been trending downward now for the past 9 weeks, however, the price is trending upward. The reason for this is the MACD is above the zero line so the pressure on the price is to the upside. This is when the shorts had better be real careful, it's almost like a typhoon(hurricane), they got slammed when it first came over and now they are in the eye of the storm, when the back side of this Bull market bears down the shorts will get HAMMERED.
This weekly Phase II could be setting up to last awhile and the upside could be very rewarding.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
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