The S&P has topped !
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S&P500 daily chart posted at my blog shows extreme overextension contained within the megaphone pattern.
This pattern reminds me of Wile E. Coyote
temporarily defying gravity after running off the cliff...
This pattern reminds me of Wile E. Coyote
temporarily defying gravity after running off the cliff...
top schmop.
the only thing that will kill this market is the end of QE and the end of pomo. that's it. nothing else. stop with all the patterns, the fundamentals, etc. the fed has to stop the liquidity. or the market has to think the fed will stop.
if QE3 even becomes a remote possibility, we're going much higher.
the only thing that will kill this market is the end of QE and the end of pomo. that's it. nothing else. stop with all the patterns, the fundamentals, etc. the fed has to stop the liquidity. or the market has to think the fed will stop.
if QE3 even becomes a remote possibility, we're going much higher.
The equity rally since Aug 2010 has continued for longer than expected â similar to what happened after I began my warnings in early 2007 but the market decline didnât start until mid 2007.
Despite market intervention/QE, natural market forces can not be stopped â only delayed.
When the market does reassert control, the reaction (the overdue correction) may be even more extreme due to that delay.
Key global indexes are now extremely overextended and itâs concerning.
The chart pattern at my blog remains valid but whatever patterns eventuate, my indicators continue to warn that March 2009 lows will be breached.
word on the street is we make a new top at ~1340 soon
