Tuesday, April 1, 2008
This is about as strong as it gets. I'm hedging a bit along the way, but I wouldn't consider standing in front of this with a net short.
12:10PM CST UPDATE: Where's the volume?
3:00PM CST UPDATE: Where's the volume? Wait, already said that... Very bullish to have broken above the 50-day moving average. That should provide strong support as it begins to flatten and advance. Strongest start to the quarter in 70 and some odd years? As I stated late last year, if the dollar can get some traction and attract money back to the US, we could have a powerful rally even as we are only historically half-way through a typical recession-based bear. Possible resistance short- to mid-term is SPY $138 to $140.