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Rally to Begin in April?

 
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PostPosted: Sun Feb 22, 2009 12:18 pm    Post subject: Rally to Begin in April? Reply with quote

The NYMO 50-day MA, which fell from its all-time high at 38 to 28 a week ago in five weeks, fell to 16 Friday. The daily NYMO continued to fall and closed below negative 95, while SPX closed at 770. SPX may trade in roughly a volatile 750 to 800 range for a few weeks, and then the NYMO 50-day MA may have fallen enough for an SPX intermediate-term rally.

The link to second chart shows the second bubble, which is remarkable, given the structural bear market began in 2000 (after the 18-year structural bull market). The long-term trend line since 1982 (when the Information Revolution began, the Baby-Boomers entered "prime-age," and the bull market began) shows SPX should be at 717 (link below chart).



http://www.raymondjames.com/images/technical/0220091229_2lrg.png
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