End of Cyclic Bull Market cycle or another Bull market Correction??
Quote from Post #1186 24 Feb 2012
Quote:
Originally Posted by
Hoop
Ananda quote..."...whatever, in terms of risk, the markets remain extremely overbought in the longer term frame with high risks of a sudden drop in liquidity inflows - portfolio protection at 90%..."
I agree...S&P 500 closed on it's 1363 resistance line. Risk v Reward shows far too much risk. Chart formation rising wedge is bearish. Most commentators/investors are too bullish and too complacent (low VIX 16.8).....that indicates most are already "in the market" reducing the amount of future buyers in the short term future (bearish).
Updated Chart from that one at the top of this thread page
closed 1359 broken its 1363 support
The S&P 500 cyclic Bull has been wandering the Secular Graveyard so it wouldn't surprise me if it has died.....
Testing and rebounding off its 1310 TA target would suggest that the index is recovering from a bull market correction and all is well
Breaking the 1310 would send a warning that the cyclic bull could be sick
http://i458.photobucket.com/albums/q...0010042012.png