Deep subject. 4X prior since OCT of 2009 my indicator functioned well, until today. 4 out of 5 is pretty good, and shows why you use stops and don't bet the farm....in hindsight, betting against market going into a FED meeting.....probably not good idea.
MY observations have me thinking majority of times, market will reverse action from DAY OF FED meeting....ST market is well past due correction of at least 2-3%, maybe no more.
Holding SPX 1150 would logically lead to next level of R....maybe 1200-1250......leave hat at the door....opinions don't matter.
ODDLY....the little guy is staying put in mostly bonds and CASH best sources I can tell....meaning not buying into the greatest rally in history....burned too many times.
The perception of improving economy from where I sit, is of little solace.....a rise from the depths we sunk to even if appreciable is still FAR below what is needed to put people back to work.....and FAR from where we fell....
I won't say it's not improving.....but the BOOM this time instead of car buying, home equity withdrawls, housing speculation and boom bubble....we got ASSET inflation, bank credit contracting....deflation, inflation commodities, energy......soaring gov deficits and liabilities.....we have banks not stating earnings and liabilites accurately to reflect market conditions....condoned by gov...and it saved them and lured in investors even if the numbers don't add up.
M and A activity heating up.... many weak kittens getting eaten.
Not many bears left at all......guess that's OK. BOND YIELDS ACTUALLY FELL TODAY!!!
Bond market acts like we blew up and we're all dead. WHEN this party is over IMHO...ugly will have a new name.
Duratek
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