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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Copeland who wrote (43833)	1/15/2013 7:27:06 PM
From: Vendit™	Respond to of 218822

$SPX So a mixed day again today. The chart below still shows the uptrend intact medium term and today for the very short term. The longer term outlook is defiantly a fall back that is in store and I think many can agree on what the why catalyst will be so I will not redundantly post the obvious beyond technical analysis. Looking at the last FOUR daily price tops they seem to all be at or near the 1473 level (bumping head on ceiling). The curious thing is that that same level matches the longer term upper resistance line in red on the chart. There is no doubt that the $SPX will trade within the three upper or lower fork tine lines. The big question is with the big drop that is coming will it fall below the lower low tine and begin a full bear sky dive. As you said we will have to wait and see but this market is full of bugs so caution is advised IMHO. V