Replies to post #94839 on SPDR S&P 500 (SPY)

[blasher]

There is no reason to believe the Bull will continue . . .
Carl's argument is not true ...
his words don't match the picture/chart.
The penetration of the 50-ma this time IS deeper than ever before since March.
The first one was a 30-point penetration below the 50-ma ...
the second one was a 13-point penetration below the 50-ma ...
and this current one hit 42-points below the 50-ma.
AND, the most important thing about this current penetration of the 50-ma is ...
it's still BELOW the 50-ma!
I have lots of Bearish Charts on the ACTS Blog ...
but Carl shows us just one reason not to be too Bullish.
I will admit, however, that I'm not a raging Bear either.
These are tough times to be a Trader.
Swinging and Scaling are the best way to go during these Volatile and directionless times.
They are directionless because they go Up on Bad news .. unless they go Down.
We're told the recession is over, but one of of 6 people are not employed how they used to be.
It's tough to be a Bull now . . . IMHO.

[Footquarters]

Hey 2






We are sitting at the same place as in Mid October... So hardly a raging bull in 4 months..... The question is whether Government Sacs is going to play the same game..... The two big "corrections"" were both caused by the treasury saying they were taking away money, GS saying "no you can't" and then this time with the banks having to trade their own money.... guess that was rhetoric too.... We could get a hold long signal tomorrow, if QQQQ gets above 44.40, SPX above 1104 and Dow 10325....