While the day started promisingly for the bears, the late day stick save ensured that the loss is minimum.
It is now more than 30 days that SPX has not declined 1% or more.(Last was on Dec.28, 2011) As per Stock Trader's Almanac, there have been 119 past instances when SPX has gone on without a single day loss of 1% or more.They have a beautiful chart to explain what happened when that streak ended.
(Source: Stock Trader's Almanac)
Question is, when is that day.
I will post a more detailed note tomorrow.
Have a wonderful weekend folks.
It is now more than 30 days that SPX has not declined 1% or more.(Last was on Dec.28, 2011) As per Stock Trader's Almanac, there have been 119 past instances when SPX has gone on without a single day loss of 1% or more.They have a beautiful chart to explain what happened when that streak ended.
Question is, when is that day.
I will post a more detailed note tomorrow.
Have a wonderful weekend folks.
time to GO SHORT.....VALENTINES DAY GIFT fom the Illuminati
ReplyDeleteThe Fed and the ECB are two months into stealth QE3 and they're goosing the market harder/faster with this intervention than the last one.
ReplyDeleteLook back at the market ramp from Sept10 thru Feb11. We're on the same path only steeper/accelerated.
We're about due for a brief 50 point drop next week or after OpEx is out of the way but after that, it's off to the races again. That 50 point drop and a fast recovery to new highs after the ECB opens the window for more LTRO 29Feb12 agrees with your streak chart, too.
So, that's my prediction. Don't fight the Fed/ECB. They're trying to get this thing back to SP500 of 1500 again by 01May12. The only thing you need to chart this market is a straight edge, thanks to Ben and Mario. Yeehaw.
My two cents.