Saturday, March 09, 2013
SPX TRIPLE TOP? TECHNICAL CROSSROADS?
ALL this after some major inflows to stock funds, and the euphoria of 4 straight record highs? Can't say a high degree of bearishness anymore....that's been SWIPED from their faces.
My previous post, where I posit no way we will top here, is and I still feel possibly we are set for a balst off blow off top, where MORE divergences are in place at the NEW highs.....or one DOWN move before last up cycle.
How euphoric can one really be, when unemployment rate drops because of gross number of newly dropped out of work force?
GDP could surprise to upside....companies will be hard pressed to keep a good rate of earnings momentum, IMHO
So maybe, we are at tactical, and technical crossroads?
Posted by Marc R at 7:00 AM