Watch for falling markets The elections are now b
Post# of 474
Posted On: 11/06/2012 11:47:22 PM
Watch for falling markets
The elections are now behind us and there is nothing left to hold these markets up. The SPY shows a bearish pattern on the charts in terms of a bear flag and a cross over of the 20 DMA over the 50 DMA. SPY has been making lower highs and lower lows over the past several weeks dating back to late September.
Futures are already tipping the market sentiment in terms of a knee jerk plunge in the e Minis and a spike in gold. I don't know if the markets give the president the courtesy of basking in this moment for the next few days or even weeks, or if it just starts to dump out at the open.
Whatever the case, I think the SPY would be lucky to hold 130 this month.
[IMG]http://i.imgur.com/yIpjS.png[/IMG]
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