Wednesday, February 29, 2012

SPX Daily - Wednesday, Feb 29

@ 4 PM

Oct 4, 2011 To Feb 29, 2012 = 148 days.
Oct 4, 2011 To Oct 21, 2012 is 383 days.
148/383 = 0.38



@ 12 Noon

I think this may be the top.

7 comments:

  1. feeling better today! why am i always so attracted to top picking?!! LOL BEAR DOWN!!

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  2. I am only looking for an abc zigzag correction over the next couple of months.
    The Bond Market is not signalling a P3 meltdown.

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  3. what's your thinking on bonds?...i would think a sub 2% yield on the 10 yr. at the top of a HUGE wave 2 up ... would be very bearish?!?

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    Replies
    1. Even if the yields have bottomed, it does not mean we will be Greece in a year.

      Spain, Portugal, Italy will blow up first. Even UK and Germany will very likely implode before the US.

      While Europe burns I expect a capital flight into the US, which will help US assets, before the tide turns on US itself.

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    2. While US indices have breached their May 2011 highs, DAX, FTSE and CAC all remain lower than their May highs.

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  4. thanks -- I don't want to get ahead of things - but to be defensive... there could be one more ED wave up ... my line in the sand is SPY 137.45 - if we trade above that - I will have to cover / go long temporarily. You'll see that is the proposed 2 wave up -- of the current down wave. Got to have a plan just in case!!

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    Replies
    1. Certainly, the top is not confirmed by any means.

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