sp'60min
Summary
The bears are clearly still in control, which is indeed a little ironic, after the Fed maintained QE at $1trn a year.
The problem is..these sorts of minor moves are just not good enough, and once the bulls do manage to get a full turn upward..then bears are going to be ground down...as they have been dozens of times in the past two years.
Indeed, we're coming up to the big Oct'2011 low anniversary..when the sp' was a mere 1074.
Imagine that..1074. Two years...a rally of around 60%.
Why not project out..autumn 2015...another ..say 50%..call it 700pts.. giving sp'2400. Just a thought!
--
sp'weekly8
Even a Friday close of 1690 will do nothing to dent the primary trend. Actually the situation is very similar to Dec'2012.