sp'weekly8b
Summary
I've nothing else to add on the above chart, that I've not already said a thousand times in the past few weeks.
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Anyway, the point of this bonus weekend post, is to highlight some videos that caught my attention...
First...sp'500chart.com...
I'm very much in agreement, in that the trend does offer the sp'1920s, if not the 1950s within the relatively near term (mid June at the latest).
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Mr Permabull...is bearish.
Once again, Oscar is back on the bear train. He seems spooked by action in bonds..and in the DAX. Yet...the weekly charts ARE bullish, and I'm kinda bemused why he has again flipped bearish, despite there being no real support for that view.
Unless we break <1850..and more importantly, 1814, I can't be considering index shorts/ VIX long.
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Mario @ SMF
Certainly, I'm also seeking a major 10%+ correction this summer, but not quite yet. Anyway, Mario at SMF is usually worth listening to, and even if he is early by a few weeks..it really makes no difference.
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Bullish for another week
The fact we hit sp'1891 Friday morning should concern the bears. We're on the edge of breaking new highs on many indexes, and once that occurs, another 20/25pts would be easy to capture, perhaps a fair bit more.
Yours truly is somewhat twitchy, I'm awaiting earnings for two stocks this week...CHK and RIG. The market had better be pleased with both of those, or I'm going to have a somewhat annoying week.
Goodnight from London