Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 672.04

-1.7%

Nov 13 4:00 PM EST

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To: Gary105 who wrote (32590)	5/23/2012 11:50:29 AM
From: chartseer	1 Recommendation Read Replies (2) of 218795

"With regards to the US stock market it should be noted that last week's break of lateral support also created a break of the uptrend line from the 2009 low and was accompanied by a Dow theory sell signal. This means that from a technical perspective, the cyclical bull market from the 2009 low must be regarded as being over until clear evidence to the contrary emerges. If it is indeed over, then a new cyclical bear market within the secular bear market has begun. This is actually quite likely – as we have noted on many occasions, indicators that are important yardsticks for the medium to long term market outlook have been on 'red alert' for quite some time. Especially noteworthy are the all time low in the mutual fund cash-to-assets ratio and the second highest level of margin debt in history. In the short term the market now looks very oversold, but this does not necessarily mean that an upturn is imminent. Last week's move certainly constitutes a mini-crash, but sometimes a 'mini-crash' turns into a big crash." financialsense.com

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