Thursday, January 19, 2012

S&P Golden Cross!! (bullish)

The golden cross (50 dma/200 dma) is a lagging indicator and it would be healthy for the market to pullback here. But damn, is this not a gorgeous chart?! If you leave out the prior ten years, this (six month) chart looks really bullish. We might be a little over extended in the short term but the 2008+ bull market seems alive and well. A violation of $125 (or ~1250 SPX) would convince me otherwise.

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