Well after many of my members have been hounding me for this chart I finally decided to give in and talk a little bit about the monthly spx chart. We have been going over this in our VIP MEMBERS SECTION here for months now, and nothing much has changed!
At the start of the year we hinted this year could be very good, but the strength of this market has even surprised me. We were laughed at, and had emails telling us we were crazy, but you can see just how strong this market is. Yes, since January 2013 we have gone up a few hundred points on the S&P and now we only have a few weeks till 2013 is over! WOW what a year. ;-)))
While everyone out there kept crying about intrest rates, and the fed, claiming this is a top, even that we were going to crash this year (which seemed crazy anyway) we just sat back, and watched the charts. Now I will be the first to admit, no one knows what will happen next on the market, but this monthly SPX chart still does not look toppy or giving signs the market is about to crash from here. I could be wrong, that is just in my humble opinion of course.
Even the whole tapering thing did not hardly do any damage to the market. But we all know that eventually tapering will need to happen, and the fed have backed themselves into a corner on purpose and they probably are planning something bigger for 2014. Right now, they are the VIAGRA under this market, and printing money and sending us up higher is their current game, not tapering. So do not listen to the rumors and just trade.
The real kicker this year, was breaking the 1550 mark (see green arrow) early in the year, and now we are back up at the 1800 mark. Believe it or not, but the month of December (which we are now in) over the years has been a good performer as well, so even though the market still looks healthy here, I am more interested than anyone to see what we have in store for us in the next few weeks, leading into 2014, but so far the signs are pretty good I think. Time will tell.
Laugh if you will, but my overall consensus looking at the chart below, is hinting we are in a very very healthy bull market. Bears got decimated this year!...... heck, we only had 1 or two red months the whole year....WOW!
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| spx monthly chart |
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