Thursday, July 30, 2009

S&P 1000

Back in mid March, I wrote on here, that the S&P could rally up to 1000. We now have rallied 50% off the lows. We are at the yearly pivot and the top of a megaphone pattern, which is usually bearish, as seen in the chart above. Volume has been light this past July. BE CAREFUL with NEW long positions up here.