Weekly Bull/Bear Recap: Veteran's Day Edition

Tyler Durden's picture

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RobotTrader's picture

SPY seems to be consolidating right over the 21-day EMA

Needs time to build strength before breaking out of this range.

http://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=9&dy=0&id=p89856153409

The biggest clue that the market wants to go up is the EEM.  On the big down days, it doesn't get hammered near as hard.

http://stockcharts.com/h-sc/ui?s=EEM&p=D&yr=0&mn=9&dy=0&id=p58955654874

Despite all the "scare" days.

NY Composite Summation Index has gone virtually straight up since the October lows, and is now at the high end of the range.

http://stockcharts.com/freecharts/McSumNYSE.html

If it turns down and the SPY breaks down badly below the 21-day EMA, then all bets are off.

 

achmachat's picture

you really should get out from time to time. You will see that some fresh air is very effective for bringing you back to reality.

jwthomps's picture

Look at that extended necklline and the 200 day MA

Barnaby's picture

Big Jer blew boys
So let's wear blue, boys!

Bearish on any modern US university degree. College debt bubble next big pop!

sheeple2012's picture

Gonna kick back and watch the game with a "Sandusky" - any 10 yr. old scotch with a splash of hot water

slewie the pi-rat's picture

i think it depends on how you keep score, at this point

what are "earnings" and what are they "worth" for the now-different S&P?

in early 2007,

  • corn was flirting w/ $4
  • gas was about $3 retail US
  • gold:  $700; $800 by year-end
  • silver:  $13-14
  • BiCheZ:  priceless

so people hafta think for themselves, b/c the banksters keep moving the goalposts!

i don't think that graph is any kind of "adjusted dollars", but dollars have been thru some amazing adjustments! 

if you figure the dollar has lost 10% since 2007, the S&P E = ~ <$100

lost 25%? : maybe earnings ~ $80; and if you don't trust the accounting, maybe you should knock a coupla more bucks off the advertiZed numbers

along with the never-ending clown shows, bankster frauds, and reorganization of rules and continents, everybody keeps lying about everything, so, place your bets!

 

GiantVampireSquid vs OWS UFC 2012's picture

looks like a double top to me, could be either.