Friday, October 1, 2010

Top not yet confirmed, but not ruled out either...




Indicators like MACD seem to be rolling over, but we haven't quite got confirmation yet...

3 comments:

Anonymous said...

hey Mark,

Early this afternoon, I decided a close at or <1146 would make me smile and a close at or <1144 would make me joyous. Neither occurred.

While getting close to the "joyous" 1144 in the waning minutes, the SPY close at 114.61 even missed my happy face smile point. So, we're open to another step up on the ladder.

Here's what I think, not what I know. Managers' of passive money are putting that money in the market while manager money comes out. There needs to be a final rally so the managers can show their sheeple clients that all is well. Then it's over. This is how dumb money gets caught at the top.

Hope I'm wrong and it crashes Monday, but don't think it will. I wasn't given, per last post, a STRONG buy signal yet. :-)

Regards,

mlytle said...

Hi Anonymous,

You could be right...

Regards,
Mark

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