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

SPY 680.44

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4:00 PM EST

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To: Vitas who wrote (45683)	2/8/2013 2:34:44 AM
From: Fintas	of 220451

I could give you a simple YES or NO but that would not provide you the plan view laid out with sequence.. SO. I'm expecting the spx to roll soon Whether it continues to 1520/1530 first is of no concern to me.I consider it FLUFF. What I am looking for is the TOP.. Then yes a pullback. Because so many want to chase it that will probably not allow the initial retrace as low as I expect. Or down to 1474 ish bounce back towards 1500 ish..Fail and then down to 1458 ish to be hit, bounce, then 1405 bounce then 1350 bounce, spx 1324 ish. THEN it could hold OR the last breath down. Spx 1305 and some fluff under. Depends on how it finishes. Once that last gasp is in then it should rebuild to go on to take out 1620 and possibly this year. IF NOT next year. Regardless 1620 will come, and then some selling to then go on to 1710/1810, 1972.. Those last 300 plus will probably come very quickly. . This rally has had been a broad based. That is why so many sectors are STACKING to the RIGHT and can be seen via a bell curve. Lots of sectors to the right of 50. ONLY TWO sectors to the left: Precious metals and Metals.. Try to picture that for it speaks volumes to the amount of money coming in. That detail is pushing sectors right. Doesn't mean ALL sectors deserve such. Just means it is what it is and those buying securities should know their values or be paying too high. It will take TIME to unwind. When the selling is done the precious metals and metals will have some company to the left of 50. and in the 30's. Once the near term bottom is in, I then expect to see 1620,Like I said LATER THIS YEAR OR NEXT. That hit and hold will be kiss of death to Spx 1100's, 1200's, 1300's. THE new support will be 1458-1486 . That areas will be as Spx 1324 is NOW. MANY forget HOW many times and HOW much time it took to get to get up thru 1324. They forget the pullbacks but a study of charts should help remind some. Meaning just as 1324 was tough to overcome so will 1620 be tough. One day 1944 will be hit and that 1458-1486 will be a THORN in the flesh of bears just as 972 was to those who wanted spx 850. That is why any suggesting 670 and under are WRONG. FACT is it will be very hard to get to 1150. NOT out of the realm of possibility with an awe chit BUT VERY VERY UNLIKELY and why I present the 1300's. SO back to lows of 2009 is NOT GOING TO HAPPEN. Hope it helps. IF you need more clarification just PM Fintas

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