"Click on the chart to zoom in."I'm a bear as long as S&P500 stays below 1131, but I would like to point a bullish scenario for my bullish readers. The year 2009 has taught us that in this casino(stock market) any thing is possible, therefore I decide to point a very bullish scenario for bulls.
What we have in the chart above is an Inverted Head & Shoulders pattern. This is a very bullish set up. Base on technical analysis if S&P500 gets above 1131 we should witness an extreme rally to 1220 to 1260 by end of 2010 forth quarter. Please note if we get a fake out move above 1131-1150 for a couple days then S&P500 rolls over we would tank to 950 in matter of days.
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