Friday, February 1, 2013

SPY Roadmap update 2/1/2013

About 2 weeks ago I had called for SPY 150 before Feb. Guess we hit the the target much sooner that I thought. Today's move came on strong economic data from China and good (but not great) jobs report. There are some warning signs in the market but I think we continue our move higher next few weeks. It may come with some minor pullback but those should be used an opportunity to buy. Below is chart which maps measured moves from Dec11-Apr12, June12-Sept12 and applying it to Dec12-current period. SPY 159 in not out of question in this rally. The top white line is the trend line from SPY tops in 2000 and 2009. Coincidence? Maybe not.Tighten your belts for move higher. But again, trade what you see not what you think :)

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