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Tuesday, March 2, 2010

SPX and RUT ... GO BULLS!!!!

The title was for those in the CIL today :) Good times :)

BTW, just call me binve the bull!!!! RAHH RAHH SIS BOOM BAHH!!!! GO BULLS!!!!

Well the RUT made a new 52 week high today. So it is still in it's P2. But like I was saying last night (Russell, Russell, Russell):

Yes, the Russell could make a new high. And Yes the rest of the indices can still be in P2 if the Russell makes a higher peak.

So lets first see what the Russell looks like:

We have a 5 wave move for the last 5 that looks like it could make a higher high. I think missmalibu's prediction will be right on. One more high before the fall. 60 min indicators are sporting divergence.





Next the SPX:

I know a lot of people are counting Minor 2 as an expanded flat, but I dont' buy it. Unlike the RUT, the rally the last 2 weeks on the SPX does not look impulsive to me. Could I be wrong? You bet!! In fact, if you want to use history as a guide, the fact that I say it doesn't look impulsive means it probably is. But it looks like a correction to me. 60 min here is also sporting divergence.





I think we have one more high tomorrow and then things begin some serious downward movement.

.... I mean: GO BULLS!!!!!
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