Replies to post #53908 on Options Wonderland

[???]

Dow charts

Funny thing is, after 5 of 7 red weeks, after tanking from 10,730 to 9,835 (-900 points) in 13 sessions, we are still back at a healthy 10,325.

45 points shy of the 50MA, looking very bullish to me.

Weekly:


Daily:


What looks bearish to me is the $USD, well there are some good things (golden cross 50MA above 200MA, aside from the 10EMA all the short-term moving averages are pointed up, but that could change very quickly)....On the bear side look at the CCI(20) and slow sto and possible double top:

[Tommy86]

i understand your point but spy climbed all the way up without so tremendous news and i think and hope it will continue. i think the most important thing is the interest rate level at near zero. all the money should go into investments rather than savings which is very good for the market.