I forgot to mention that intraday breadth has been very good.
Breadth is now getting short term overbought. If bears are still alive and marginable, they should show us what they can do with overbought breadth in the short term.
Keep an eye on 200 MA. Many watch it. If it holds and leads to move above August high, some undecideds may try to scramble their way in.
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago