Unstoppable

This rally has been unstoppable. Fortunately, this silliness will come to an end - but remember that the market is operating on its own time frame, not yours.

In the very short-term the bias remains bullish. I am doing my part at least, to put an end to this - via voodoo magic blue lines, drawn for you, on the charts below (click charts to enlarge) - which will undoubtedly act as fiery hellstorms of resistance.

Keep the prevailing trend in mind. I will still be looking to add to my short position, via SSO, if SPY gets to its trendline, as drawn below.

By the way, as the govt is working tirelessly to 'loosen' the credit markets, read this: Bespoke

QQQQ


SPY


SPY - with fibs (drawn from the gap down on 10/03)


GS - resistance at trendline & 200 day MA


X - resistance at trendline & 50 day MA