Here is a daily bar chart of the cash S&P 500 displaying the past 20 months activity.
- Today we saw a high volume breakout below the March and the June 2011 low points.
- This was also a clearly defined breakout from a head and shoulders top formation (blue lettering).
- At the same time the market broke well below its 200 day moving average.
- All are classic sell signals. Many well respected technical analysts have announced the start of a new bear market.
- economic news is terrible
- BUY - BUY - BUY !!