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[Sentient Being]

Why SPY looks Bullish to me. 1) Price has been trending up for three weeks now inside a nice up trending channel. 2) SPY has moved above it's 200 day moving average, it's 21 day moving average, and is challenging it's 50 day moving average. 3) We saw extreme readings of market sentiment as the "bottom" was being formed. The kind that at least for the combo indicator I created indicate that a bottom is going in. 4) The monthly bull market uptrending channel was tested to the downside but held, the monthly price action says the bull is still alive. I'm still long double positions in SPY and QQQQ. Both are in the black, however, only in the QQQQ have I been able to move my stop up to the black side. I got in a bit late and am waiting for some real gains to occur here so I can start pushing those stops along. What's my fearless forecast? I don't have one. Where's it going? I have no idea. But I have two positions and I can get out now at break even if my winning and losing stops hit....so I'm sitting tight, along for the ride, fingers crossed that we can get a few weeks of upside, get above that 50 day moving average and let me put some real gains on my bottom line, for a change.

[HoseB]

1. Market held technical support in August.

2. Fed jumped in on the side of the Bulls.... money-pump, more inflation, yada, yada, yada.

3. That's all that really matters.