www.invetrics.com:- data point 12 January 2010
(may adjust at market Open)
www.stocktiming.com: -data point 12 January 2009-
issues (100)% SPY/QQQQ 'buy' recommendation -data point 05 January 2009-
Trader Update -data point 12 January 2010:
...the SPX 500 has so far retreated to the December 29 Low *1132 and remains vulnerable for further slippage near term to test the 29 December Low *1124 next with potential to reach for the 31 December Low *1014 before rebounding
...a successful defense in that range would motivate the market for a retest of yesterday's High *1151 which could turn out a double top scenario from which a deeper correction would commence;
...if the double top set-up plays out, the corrective move would target the 50-day MA initially, with further possible downside to test August/September/October Lows trend line *1073
---SPX 500 on a normalized P/E basis is overvalued by 27% (Schiller)
---median P/E multiples 22.2
---yield on the SPX 500 below 2%
Long Term: THE BEAR
_no guarantees and trading strategies are just ideas_
Kind Regards