The S&P 500 Is About To Rally Up Really Hard - Bears Beware!

[nysefloortrader]

8th of december guys and gals, and i think the market has taken some errr VIAGRA this week. LOL. haha.

Looking at the breadth charts it is pretty interesting that the charts are pointing to some nice up coming in the next few weeks I think.

first the summation, which is still on a buy. So the bulls are still running the show regardless of Fiscal cliff BS and others saying the market is gunna crash hard.








leading breadth is telling us, the bulls have done damage since the 14th of November, however, there is more upside coming to the market. or to expect that in the coming months.








This is my favourite chart. Look how we closed on the weekly.

Means 1460 - 1470 is coming, and the stochs have only just turned, so there is not reason to be a bear here, it is still BUY DA BLOODY DIPS scenario on the S&P.

we are in a bigger BEARISH rising wedge, which means there is DOOM and BIG TROUBLE coming, but I would not be surprised to see the upper resistance hit first, the 1470 even 1500 hit first.

yup ok, I am a bull, dont hate me for it, I am just calling it how I see it and reading the charts...not trading off what I THINK or FEEL will happen.

I could be very wrong, but for now, this is what I will be doing.





Well there you have it!!! I would be thinking the bears and those short might be in for a bit of a surprise in the next several weeks.

Happy trading!

 

[nysefloortrader]

Seems like we open on monday and the bears might be in deep deep prayers! LOL

 

[kid hustlr]

will be interesting to see how it plays out

 

[nysefloortrader]

will be interesting to see how it plays out

yes kid! I have large long positions that I will hold to early january!

I think it is wise NOT TO BE short into fed weeks. like this one. Can be dangerous!!

But with summation the way it is, BEARS will get aass handed too them soon.

In my opinion, still buy da dips if we get one!

Market looks good today, RUSSELL and DOW JONES>>>... NICE

 

[nysefloortrader]

Looks like we are getting a bit of a dip here. Which is duely noted, but summation is still on a buy.

I would not fall in love with the downside in the next week or so.

I think 1490 - 1500 is gunna come to us on SPX by JAN 2013. That is my guesstimate stab in the dark guess I think.

 

[baby_swallow]

Its usual for SPX to rally during Dec holidays right up to middle of January or so.
When the big cats are away taking a break, the little Gremlins are left playing with the markets.
These Gremlins can push up the markets with very little volume.
Times like these, I stay away from the markets until a reasonable volume reading comes back.

 

[notting]

Just one or two little things to be mindful of:

1. There may be a few 1%rs in the US looking to sell this rally to get some capital gains out of the way before the tax hikes on capital gains kick in after the fiscal cliff Punch and Judy show.
   
   
2. QE4 was a hawk dressed as a dove. The comment about pre-empting the employment trend toward 6.5% I reckon meant - "if we get to 7% we are going to turn off the machine! But here is some play money to make sure we power through the cliff and get to that lower unemployment figure sooner than later.

 

[nysefloortrader]

Bears are crying today, wondering why their shorts are not working.

WILD PREDICTION : Get ready for 1480 - 1490 on SPX, coming very soon.

Summation chart you see above STILL on a buy, I do not trade against that, as that is stupid.

 

[ftw129]

Bears are crying today, wondering why their shorts are not working.

WILD PREDICTION : Get ready for 1480 - 1490 on SPX, coming very soon.

Summation chart you see above STILL on a buy, I do not trade against that, as that is stupid.

How much further can it go?

 

[notting]

Is it the momentum stocks that usually crack first?
Euro's being revised down without a comeback.
This time people are not going to think China will grow for the world.
The Japs Abenomics is whimpering.
Brazil is mayhem.
It's all up to the US
The US is the only place that has been doing OK.
It is because of the Fed.
That is coming to an end.
Not sure what that spells other than Amercans are a very confident bunch and that is all they have been selling to the world recently.
Guess the bulls like eating their own ****.
Starting to get a bit short about now!

 

[CanOz]

Is it the momentum stocks that usually crack first?
Euro's being revised down without a comeback.
This time people are not going to think China will grow for the world.
The Japs Abenomics is whimpering.
Brazil is mayhem.
It's all up to the US
The US is the only place that has been doing OK.
It is because of the Fed.
That is coming to an end.
Not sure what that spells other than Amercans are a very confident bunch and that is all they have been selling to the world recently.
Guess the bulls like eating their own ****.
Starting to get a bit short about now!

Zzzzzzz....more broken clocks...

 

[notting]

Never short a boring market they say!

Also after a generational melt down the wall of worry is going to be rather high.
So it would seem silly to be shorting just yet.
Just sensing a change in the wind, so have put a couple on!

 

[Rotari]

S&P 500: Prices are continuing in making new highs after the recent break above the horizontal resistance area 1,964-1,968. However, there is a serious possibility the 2,000 mark will result in a consolidation and possibly larger pull-back. An hourly close below 1,972.50 suggests a violation of the pattern of recent new highs. If prices are breaking the trend line below 1,964 in the hourly chart should expect a consolidation in the uptrend and a close below the MA-50 line at 1,918 is required for a trend change.

 

[shezian]

S&P 500: Prices are continuing in making new highs after the recent break above the horizontal resistance area 1,964-1,968. However, there is a serious possibility the 2,000 mark will result in a consolidation and possibly larger pull-back. An hourly close below 1,972.50 suggests a violation of the pattern of recent new highs. If prices are breaking the trend line below 1,964 in the hourly chart should expect a consolidation in the uptrend and a close below the MA-50 line at 1,918 is required for a trend change.

Where can l get backtesting data going back 20 years?

Thanks Sue

 

[Rotari]

S&P 500 faces a key test of support at 1903/1893, loss of which would point to a more protracted correction lower. The S&P 500 maintains a top below 1953, and market look for a test of the medium-term uptrend and price/retracement support at 1903/1893. While we would expect buyers here, a break would warn of a more protracted correction lower, and a move to the 40-week average at 1868.

 

[Stratanu]

Trading View Today: The S&P confirmed a further strong closing on Friday suggesting we have a s/t bottom at 1983,20 supporting a move toward the 200 days line at 2041,52 before our s/t target, still at 2’072,50, if not even higher levels suggesting a retest of the previous tops!! The weekly closing was also strong, well above the top of the previous week.
The indicators of the daily chart are still well positive for now but also still showing potential negative reversals; those of the weekly one remain below the line. The indicators of the s/t charts are positive with further bearish divergences still supporting a positive tone.
I have long for now, 2'001. We moved the stop to 20’12,50 as suggested!!