8th of december guys and gals, and i think the market has taken some errr VIAGRA this week. LOL. haha.
Looking at the breadth charts it is pretty interesting that the charts are pointing to some nice up coming in the next few weeks I think.
first the summation, which is still on a buy. So the bulls are still running the show regardless of Fiscal cliff BS and others saying the market is gunna crash hard.
leading breadth is telling us, the bulls have done damage since the 14th of November, however, there is more upside coming to the market. or to expect that in the coming months. :-)
This is my favourite chart. Look how we closed on the weekly.
Means 1460 - 1470 is coming, and the stochs have only just turned, so there is not reason to be a bear here, it is still BUY DA BLOODY DIPS scenario on the S&P.
we are in a bigger BEARISH rising wedge, which means there is DOOM and BIG TROUBLE coming, but I would not be surprised to see the upper resistance hit first, the 1470 even 1500 hit first.
yup ok, I am a bull, dont hate me for it, I am just calling it how I see it and reading the charts...not trading off what I THINK or FEEL will happen.
I could be very wrong, but for now, this is what I will be doing.
Well there you have it!!! I would be thinking the bears and those short might be in for a bit of a surprise in the next several weeks.