As you can see on the chart below, we are now out of the downwards channel and heading up higher.
We warned our reading not to fall in love with the downside and now you can see why. Not matter how bearish everyone got, this was just YET ANOTHER dip in a BULL MARKET, so make sure you remember that, that no matter what everyone out there are saying, YES! we are still in a bull market....still.
As you can see the chart we have broken through resistance and those SHORTING this market and expected a DEFAULT on the US economy, are very sore today. The criminals running Wall Street and also the WHITEHOUSE had many people fooled this week!!!
One of our rules is that it takes weeks to take the market down, but only a few days to erase those loses in a bull market. As you can see very clearly on the chart below.
|spx chart update|
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