pretty awesome and makes sense. if rocks can skip on water.. why not

run...

great chart,

which way do think it will break?

thanks

Could you update the S&P Inverses H&S scenario? Seems we broke through the

the neckline.

The recent rebound of the Euro was short lived but I recall  Matt saying on a recent newsletter that "the first reversal/rebound is always sold"..to paraphrase.

Steve, what are your thoughts?

He is the epitomy of the "Perma Bear".

Ned Davis says something similar. In the 8 times this has happened in 50 years the market was  "ALWAYS" up fairly substantially 6 months later. FWIW

Puma, I appreciate your posts. Thanks for them. Question...how far do you think this bounce can go?

Thanks

Markets are getting very oversold on a short term basis. I could see a washout drop on Monday and then a substantial rally (to the 61.8% retracement..1177 level). One more day of triple digit drops on the Dow will be maximum pain for many investors.

Marketguy,

Your charts are great! Thanks for posting.

I was wondering if you noticed that after the bullish percent has a down arrow that in 3 of the last 4 times there was a dip in the S&P and then an attempt to rally with a nice pop ...albeit shortlived. 75% probability? Might be worth a trade.

Any thoughts?

Tom O 

thanks!

Would you please elaborate? What does HOD mean. Thank you! I own NFLX

They have completely discredited themselves. A broken clock is correct once a day. That is about their record. Anyone who listens to them deserves what they get.

1.1% is being "slammed"?

The main difference from a fundemental standpoint is the world was entering a once in a lifetime market crash. Take that out of the picture and it looks extremely bullish to me.

Perhaps everyone has learned the hardway that you don't short in a bull market.

Or they're broke from shorting.

Prechter is a "perma bear". He has a bad record for market calls and even admitted in an interview recently that he doesn't "have time" to trade his own calls. This is a BULL market simply based on the charts. However the market often leads the economy so we are most likely in the process of a recovery. Don't short this market! If anything average yourself in. I am a long term bear based on fundamentals but I am riding this bull very profitably.

These guys are rarely right and have made so many "imminent crash" calls that

eventually they might get one right. I wouldn't do anything based on their take.

Looking at the big picture it has a look of a massive inverse H&Ss. Just a thought...

Institutional money buys in the last hour. This is a fairly well known fact and they contribute 50% of all buying. They are also referred to as the "smart " money.