THE DOT - if this turns orange or red be alert

Wednesday, July 21, 2010

SPX weekly update

The SPX rally made it to the 2 crossing lines and never exceeded the death cross which is a deadly sign for the bulls. bulls might want to put on double pampers and fasten their seat belts pattern deploying. the 50 ma proves to be a resilent resistance for all phony rallies while we prepare for the big one the drop below the big 1000 handle. that should trigger a mini capitulation down to 925-50. We might likely see a bit more zigzag til the 26th - even 30th less likely - followed by a steep decline lasting another 3-4 weeks. Thereafter a sharp rally to max. 1200 as the final chance to get out before disaster hits the world and spx declines to new lows beyond the evil 666.

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