Wednesday, June 23, 2010

New SPY chart

I'm redrawing my lines, this is my new working chart. Still in a downtrend and positioning for SPX breaking under 1000. I think the chart of equities and bond yields are telling us there is an economic slowdown. Official slowdowns are retrospective, I'm not going to wait for negative GDP growth next quarter to tell me what I think the market is already signaling.

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