Friday, December 11, 2009

SPY at a cross roads

After a few weeks of meandering indicators on the SPY have positioned themselves into points which normally are bearish. You can see on the chart the first remark (A) shows our indicator turned up near the middle following a divergent decline (B). A purple circle to the left show a turn up previously seen. The lower indicator (C) has turned up from a 4 month lowwhich has also signaled a reversal. Taken together (A) and (C) should combine for a begining up move.