Bear Cave 2 (Bull Allowed)

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August 20, 2010

Both the S&P 500 Index (SPX) and it’s tracking ETF the S&P Deposit Receipts (NYSE: SPY) collapsed in heavy volume on Thursday, August 19.

This was not unexpected.

The SPY has support at $106 and the SPX has support at 1056.88. If we close below these levels in coming days, we expect declines to continue with a test of the July 1 correction lows probable.

http://timing.typepad.com/timer/


The Fibtimer.com (http://www.fibtimer.com) ETF Timing Strategy has a position in the S&P 500 SPDRs.
 
China Swallows Obama Stimulus Meant for U.S. Economy: Andy Xie
Share Business ExchangeTwitterFacebook| Email | Print | A A A Commentary by Andy Xie

Aug. 18 (Bloomberg) -- The global economy is like fried ice cream: If you don’t act fast, it turns into a mess.

American pundits, Nobel laureates included, are predicting Japan-style deflation for the U.S. and Europe. They are urging the Federal Reserve to pursue another round of quantitative easing to stop the onset of an Ice Age for Western economies. The Fed didn’t oblige at its last meeting, but it threw a bone to the deflation crowd by promising not to pull money out of its previous round of asset purchases to stimulate a recovery.

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=awzqAYrLaXZ8



http://noir.bloomberg.com/avp/avp.h...//media2.bloomberg.com/cache/v9vQXnG6Ua8M.asf
 
Thursday’s Trading – 8/19/2010
August 18th, 2010

Note to Steve Cortes: Go ahead and shill for GE if that’s what you need to do to pay the bills. But if you think that crushing the American middle-class represents progress, you are totally brainwashed. Ten years ago, there were 111 million jobs in the USA’s private economy. Today there are 108 million. Your idiotic global trade system has destroyed this country’s ability to create jobs.

http://www.trivisonno.com/
 
Friday, August 20, 2010. 9:15 am.

In July I wrote an article titled ‘Is The Recovery An Illusion?’ With the additional evidence that has come in since there really is no doubt about it.


Interesting Chart of the Morning.
Do you have friends you think may be too bullish, maybe not giving enough consideration to potential risk, may not be considering the potential to make gains from downside positions?

E-mail them a link to this blog www.streetsmartpost.com so they can at least see this chart, of a rare and potentially bearish short-term megaphone formation (also known as a broadening top), and potential intermediate-term head and shoulders top (S,H,S).

http://www.streetsmartpost.com/
 
August 20th, 2010 In Part 1, I asked Corporate America: “As you bask in the glory of your fabulous global free-trade utopia, maybe you can explain to me why your stock index topped out 10 years ago.”

And now for the answer:

http://www.trivisonno.com/
 
August 20, 2010 Analysis from Serge Perreault

Here's the latest weekend update from Serge Perreault, a Chartered Accountant and market technician located near Montreal, Canada. Serge has been following the S&P 500 index in a series of weekly charts. Serge explains:

http://dshort.com/
 
August 20, 2010
The Facts of Life
People like to couch these things in political terms, but in my view, regardless of what happens at the next election or which party is In power, past and current economic realities make it inevitable that three things are going to happen: the retirement safety net is going to be (dramatically) reshaped and scaled back; defense spending is going to be slashed, and taxes are going to be raised, in some cases by a lot. In fact, three recent reports suggest those wheels are already in motion:

http://www.financialarmageddon.com/
 
Manipulation and Technical Analysis
Submitted by Tim W Wood CPA on Fri, 6 Aug 2010

The following text on Manipulation was taken from Robert Rhea’s book, The Dow Theory.

'The average amateur trader believes the stock market is guided in its trends by a certain mysterious 'power,' this belief being the one factor, next to impatience, most responsible for his losses. He reads tipster sheets avidly; he scans the newspapers industriously for news likely, in his opinion, to change the trend of the market. He does not seem to realize that by the time the news of real importance is printed, its effect, so far as the basic trend of the market is concerned, has long ago been discounted.'

http://www.financialsense.com/contributors/tim-w-wood-cpa/housing?q=node/1818
 
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