Won't rule out a reversal that strong, but that would be quite
strong, and definitely bearish. More likely, you'll see key
sectors finally losing their 9ema (XLP, XLU, XLV), while other key
sectors (EWZ, OIH, XLE) getting rejected from strong resistance.
Put the two together and I think if the SPX just leaves a
modest sized topping tail, then a reversal might be at hand.
Nice one
$SPX symmetry?
Posted by manpat on 25th of Apr 2013 at 02:49 pm
spy is pulling back.
Note if (will be a surprise) SPY closes today below 157.22 then it will be a bearish engulfing candle.
Won't rule out a reversal
Posted by kalinm on 25th of Apr 2013 at 02:53 pm
Won't rule out a reversal that strong, but that would be quite strong, and definitely bearish. More likely, you'll see key sectors finally losing their 9ema (XLP, XLU, XLV), while other key sectors (EWZ, OIH, XLE) getting rejected from strong resistance. Put the two together and I think if the SPX just leaves a modest sized topping tail, then a reversal might be at hand.
Nice symmetry
Posted by lamb on 25th of Apr 2013 at 02:58 pm
Lets she the nature and extent of the pullback
what are you Steve??? LOL
Posted by matt on 25th of Apr 2013 at 02:59 pm
what are you Steve??? LOL
Steve's expressions
Posted by lamb on 25th of Apr 2013 at 03:03 pm
Start to ring in my mind. This sure has been an energizer bunny market-- and on crack!!