Repost my weekly chart and my call of last week and give update<<From 7/23: Well they broke the barrier of the 17ema today, have to go with Marc Faber, that being one can NOT underestimate The BERNANKIAN and WS master manipulators to keep this market from collapse, until that DAY of RECKONING, and the wheels ALL FALL OFF.
This break above 17ema MAKES return to old 1225 high or higher A POSSIBLITY( i stress POSSIBILITY) and thus resultantly cancels my near certain call that the highs are in.
How much the Fed is buying up equities we can NOT know, due to Presidential Proclamation of 1987---they remain ABOVE ALL laws and can act in complete secrecy, that remains the case UNLESS someone can quote me that Presidential Proclaqmation of 1987 has been RESCINDED is, in fact, stated in the Finance Reform Bill, that it has--can anyone do this??????>> i now comment today 7/29, the battle line remains the 17ema, it close 1.5 poits above it today.So watch that 17ema Weekly, it is qa biggy, we dropped to 7 points below intraday and then rallied to get back above it. The Machines on targetting the 17ema weekly, imo--this the primary battle line.
Only a bad week next week can crush this Bullish set-up by having a close BELOW 1065.
i will go farther now with my call and say now if we close above 1150, without a savage pullback to below 1065, we will Quite Likely go to NEW HIGHS for the year.
Spear Report reversed themselves last week from a long standing Intermediate market direction of Down to now UP, on the basis it is now the PLR status "Path of Least Resistance"
They are calling DOW to 10800 or possibly MUCH higher.
SpearReport goes by TA ONLY, btw.
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