Thursday, October 27, 2011


I now believe that the move above the August 31 top is a genuine upside breakout. The implication is that this market is now going above the May 2 top which is at 1370 in cash.


MC said...

I stick with Carl's first analysis. The eurchf cross also hints to a false breakout rally in stocks and currency majors. Cheers. MC

Mad Calf Apps said...

Good to hear! It seems likely that the market will retest some resistance points that it blew through before advancing further... perhaps that is reason enough for the rally to continue. Thanks!

Spudthorpe said...


Would you mind explaining what factor changed your mind? I guess it must be the extent of the price movement past your 1250 target?

Would you change your frame of mind back to bearish if we dropped back below 1250?

Thanks for sharing your views!

Anonymous said...

Carl - if the S&P goes above 1370, is the 3 peaks and a domed house formation still intact?

TeslaSignals said...

i agree , since this rally started all the 85% to 90% work is done in night time like 10pm - 3am.. and rest of the day just some shorts trying to try their luck.. it is run by low volume computer and there are so many shorts not covered ... so it can go wherever it like since it has crossed 200 day dma.. if all shorts cover it will be 1400 +

Ivan said...

Yes Carl,
as I wrote few days ago, small correction in first 1-2 weeks in November and than UP FOR YEARS!
Now I am 99% sure, not only 90% as few days ago :)