Tuesday, August 2, 2011


The trendline that I introduced on May 24, is very popular by now, so there is not much new in this post. I simply wanted to point out that today, that trendline was hit, coinciding with many SPX downward forecast revisions, including my own. 1250, 1258, 1271 are each higher lows. I think there is chance this trendline will hold.

Added: the Dow, which as been the strongest index, is also very close to its 200 day MA.

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