Bulls vs Bears Model update
A reader of this blog wants me to update the bulls vs. bears model. Below is the model. It is currently in RED mode. Thank you for your visiting.
$SPY ZigZag
Market short term is down, but immediate and long term are still in strong uptrend
$SPY zigzag update on Dec.12,2011
SPY is still in good shape (all 3%, 5%,8% zigzag are up) as long as it stays about 122 level
$SPY zigzag chart
As shown below in my zigzag and critical levels chart, all 3%,5%,and 8% zigzag are in uptrend.
$SPY zigzag levels; why 131.62 level is important
I mentioned many times in my twitters today, 131.62 for SPY is a critical level. The chart below shows 131.62 is the 50% retracement level for 3% and 5% zigzag waves. As long as SPY is above 131.60, I am still confident this is a healthy pullback.
$SPY nears critical level at $131.3
5% ZigZag 50% retracement is 131.30. It would be very bullish if SPY can close above 131.30.
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