SPX continues to show strength on a Monthly perspective. We have yet to get that 4-6 month chop resistance level like we did in past corrections to send us into a bear market It is getting concerning though the rise away from the median line on the Andrews Pitchfork continues to get more and more extended from a linear regression standpoint I do expect us to retest the 1532 level but the market has yet to show its hand.
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paulyberndt
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FEAR GREED INDEX over at CNN Money now at 71 and in Greed territory. Stocks are not such a great buy by their methodology. It continues to climb.
biffdog
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Your analysis is correct. Pullback going to happen at least to midline of BBand. Beware of gap downs that show that hand, as gap ups have been the signal to buy buy buy. I have shaved off larger portion of my long SPY and shorted DIA. Strength is undeniable, but weakness creeps in then surges and I suspect we roll into the new year down.