SPX–ChartArt…

Have a good look at this and you’ll know exactly where the market is going…

It is the dreaded “Six Month Plan” at work. Tell me if I’m wrong!

I’m looking at “my stuff” and seeing that we can go higher here. Yes, we are definitely overbought and at major resistance.

Usually, when we remain this overbought and so close to a major resistance (or support) area, we eventually build up enough force to get through.

I don’t know what the FED will say but I don’t think they want to “upset” the markets. Or do they?

Is this one of the strongest intermediate-term bottoms? yup. Does it require patience? sure does. Do you get paid almost 6% while waiting? sure enough…

We’ve broken the intermediate-term downtrend line. 

We are above the 50 & 200 day moving averages. 

We’re in a near-term uptrend that is one month old.

Mornings are down and afternoons are up.

The dips are being bought.

We are at the top of our trading range and nobody believes it is sustainable.

The dollar is down big and commodities have ramped hard.

The Fed and Treasury are out in force.

Individual investors are way long the bond market and out of stocks. 

Computers and prop desks run the low-volume market.

It is the dead of summer.

The unemployment numbers are coming tomorrow and the market is saying that it doesn’t care.

Volatility will last a few hours perhaps, but the markets will continue on their march higher.

After a little pullack to the $SPX 1110 area, continue to be long or be wrong…

How do I know this? Greenspan and Bernanke told me so.

In a dream.

I love how KLIC dropped from 8.50 to 6.50 because of some perceived slowdown. It gave us a table-pounding buying opportunity. They just reported and the stock is up almost 20% after hours.

Who says there aren’t a plethora of opportunities in this market for investors? and a chip glut? There is only a chip glut at NVDA…But even that has fallen to an attrative level…