Beware, it is August



So from this chart I have determined that :
  1. the 50 day moving average is firmly in a down trend
  2. the 200 day moving average slope is now negative
  3. the Month is August
  4. We are at the low 2011
  5. one could construe the pattern for 2011 as a head and shoulders top
  6. First small resistance is between 118-122
  7. Risk to 104 and actually this is where I think the SPY is going.
The economic numbers the past few weeks reflect a weak economy and there is simply nothing on the horizon that would lead this investor to believe that the next six months will be any better than the last six months.  The Obama Administration still has little Timmy G running the Treasury department which is now perceived as a negative....  (little Timmy has demonstrated he doesn't have a clue along with all the other economists in the Administration)

August and September have produced some of the biggest negative returns in the history of the U.S. stock market, take care, we could be in for a record breaker!

Posted by Bradley Fluetsch at 8/3/2011 4:35 AM
Categories: Speculation
Tags: SPY SP500 Obama losses equity market beware
 

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