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 694.04

+0.7%

Jan 9 4:00 PM EST

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To: Oblivious who wrote (34994)	7/15/2012 7:31:43 AM
From: GROUND ZERO™	6 Recommendations Read Replies (3) of 221611

Is this rally an illusion? I have a set of indicators that measure true long term internal strength... Interestingly enough, these longer term internal indicators are still trending lower although they had a slight up tick this past week, but all are still much lower now than they were on 6/4 when the SP hit the major low at 1266.30 while the market itself is now about 90 points higher... this means even though market price is still moving higher, the real longer term internal trend is apparently still moving downward... this makes me think that although prices could still rally higher near term, and maybe even take out the most recent highs and maybe even get to 1400 more or less, but then it looks like this market may well see a more significant decline unless these internals turn around... and they could turn around and move higher, but if I had to play the odds, I would say not since it would have to take something incredibly powerful to do that... in other words, for the moment, this market is not standing on solid ground and this rally is not what it appears to be... so, is this rally an illusion? Well, we do see a rally, but this rally is not based on genuine internal strength... GZ

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