A Bullish and Bearish Case On The Market (3/19/2010)
3/19/2010 09:50:00 PM
Alright, alright... Where are we headed people? I've absorbed many different opinions from the tele, news stories and blogs. $SPY made new highs, oil couldn't break resistance...yet, $GLD is making lower highs (watch that new symmetrical triangle though) and the USDX could breakout again above $81. We'll see what happens on Monday post-healthcare vote. The best thing to do is watch the chart imo. If the S&P breaks below 1,150 again it will be a failed breakout and potential double top, or a prep for a boring sideways channel. I will chart out a bunch of sh*t later. I'll leave you with a bullish and bearish case on the market. Read this post at Beanieville Inc: Bears calling for major top, again and below is a video of Robert Prechter (Elliott Wave International) on CNBC warning about the next wave down coming. Good luck.