Re: Birchtree's account talk
We are on our way to SPX 1117. If the S&P 500 can not exceed the key retracement levels of 50% (1117) or 61.8% (1222) of the 2007-2009 decline, then the market advance from the March lows will probably be over and then either a significant correction or prolonged consolidation may take shape. A multi-year global stock market rally has begun. The rise will be led by continous slow economic growth combined with low interest rates. That's one of the best environments for stock investing - show me the new asset bubble, please. The VIX is signaling a likely pull higher in coming days by equities. As the market moves higher the VIX generally speaking goes lower, and becomes a function of complacency and comfort. Overall the VIX has been in a bullish mode for several months now. Ibid.