Thursday, July 23, 2009


S&P100 chart:
S&P100 has formed a new uptrend (see the chart in dark blue), and it could move back into the black up trend channel plus it took out the 447 resistance.

I have to admit it's very impressive.I'm scratching my head. This rally does not make any sense. If S&P100 wants to move higher it must to stay above 447. If it does the target will be 480-500. I'm getting ready to go short soon, Yes you heard it right.let's see what is going to play out.