Saturday, March 09, 2013

SPX TRIPLE TOP? TECHNICAL CROSSROADS?


Triple top and that converges with top in Broadening bearish megaphone I have posted....and all AFTER a possible bottom in yields?

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?

D

3 comments:

Anonymous said...

LMAO. NOW, we are headed higher!

Your words, "Lower prices to come" way back when.

Not a good record on your part.

John Kelly said...

You are one of a kind sir. There are no bears left. Only lemmings. Please continue to pass the message so others who are lucky enough to listen and find you, a pool of water that saves lives in a hot desolate desert, may be saved.

I am short the S&P. I am sure of one thing, the S&P is headed to sub 500. There is no way this house of cards survives.

Anonymous said...

Good luck to you John Kelly. And to your financial health.

S&P 1710.