So, where did S&P stop today?
Common friends, you know the answer!
The mid-line of the blue channel, of course!
Perma Bears wavers get excited when they see a gap down and shout 3 of 3 of 3 of the finally-I-am-right wave. Why? they say that a gap is an act of recognition by the masses.
We had a gap today that bulldozed over a whole bunch of shorts. How many perma bears of yesterday do you thing will call this a wave 3 up?
Any how, excellent breadth, excellent momentum, excellent price action -- a good day!
A move below 1145 may indicate that the short term trend in changing.
If I find something worthwhile, I will make a post this evening.
Have a Nice Afternoon!
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