Nov

10

SPY

Interesting chart of SPY (courtesy of stockcharts.com).

A threepeat so far — now everyone can see how "easy" the market is?! It just repeats.


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2 Comments so far

  1. lon evans on November 10, 2009 4:54 pm

    I’ve a strong suspicion that we may be witnessing the birth of a double top, and thus not a threepeat. But then again, the Japanese, having a fondness for triplets, just might be buying right now.

    What drives this rebound? Definitely not volume. Then a lack of sellers? Then why so few buyers?

    Or maybe our 12 Seers, high above it all in their Delphic sanctuaries, are bidding Goldiesacks to buy, buy, buy. What else can better explain the unexplainable run of so many 100 million dollar days for the golden boys?

    lon

  2. david higgs on November 11, 2009 9:29 am

    wow…look at them three humps on the MACD making lower highs and lower lows… don't they call that divergence…?!? All need now is unemployment to hit 20%, that should push the Dow up another 300 pts…

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