Points n Handles

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Market Stage - S&P 500

Posted by bln, May 16 2008, 09:13 AM

Short Term
Bullish - Long @ 1388.28 (May 9) - +35.29 points.

ST trend is mature and is about to end very soon. Looking for a counter trend short signal.

Intermediate Term
Bullish - Long @ 1276.60 (March 17) - +146.97 points.

Market internals are still healthy and strong, but are quite overbought and in the area were the trend usual reverses, so I do expect the IT trend to top and turn down very soon.

Long Term
Bearish - Short @ 1325.19 (January 18) - -98.38 points.

The long term trend is still pointing down ever since, indicating a cyclical bear market.



Comments

  garyp, May 17 2008, 01:48 AM

Thanks for blog, glad to see someone get away for the daily hype.

 
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