For bulls, bad news is S&P 500's 1220 level hit in late April is very likely the high of 2010, but the good news is that we are likely to see that level to be broken to the upside sometime in 2011.
Thursday, September 30, 2010
S&P 500 scenario for Q4 of 2010
With 50 DMA below 200 DMA, VIX at the tip of breaking out from 4 month falling wedge, and S&P 500 about to be rejected by upper end of trading range, here is one of the scenarios in my mind for the last quarter of 2010:
For bulls, bad news is S&P 500's 1220 level hit in late April is very likely the high of 2010, but the good news is that we are likely to see that level to be broken to the upside sometime in 2011.
For bulls, bad news is S&P 500's 1220 level hit in late April is very likely the high of 2010, but the good news is that we are likely to see that level to be broken to the upside sometime in 2011.
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