I noticed this short video earlier....
Mr Bear will not always be so playful..this year
It is always somewhat bizarre to see such a huge animal acting so playful and sweet. The 'market bear' (would its name be Pee-Three?), has indeed been very playful and happily submissive since last October.
How many more months of the warm and fuzzy bear to go?
Lets take a look at the Sp'500, monthly
Ask anyone - not part of the chart fraternity 'which way is this market headed?', and they'd doubtless say up. The chart above is about as simple as it gets. I'm just assuming the current wave takes us to the upper channel line that was established from May'2010 to May'2011. I realise many out there will get all riled up over such a simplistic outlook, but hey...I like simple. I have added a standard Fib' extension, which interestingly points to the 1550 target.
As I've posted a few times in the last few days, I'm real tired of things. I'm real tired of overly complicated theories, of counts (yeah, I'm guilty of that a bit), and just plain relentless 'top calling'. I'm sticking with simple, its as.....err....simple as that really.
Spin the Wheel
The Futures wheel spins up in 5 hours, lets see if they wanna tease the big bear with a little down move of say 0.5/0.75%...or, if they wanna whack him in the head with a wooden bat...aka.. SP+12/15pts (for no good reason). New week, new month...new quarter. Lets hope its at least...entertaining :)
Enjoy the evening.