The hourly indicators are showing a swing failure and bullish divergence POSSIBLE REVERSAL at this stage but NOT yet confirmed. It is predicted to have a +3% 4th Q gdp by some economist so to be too bearish is to be FOOLISH TO THE MAX. ALL these bearish calls on this message board are REALLY FOOLISH. IF we do print a GDP of +3% GDP then we are in an EXPANSION, NOT NOT NOT a recession. ECONOMICS 101. DUH, DUH, DUH. JAMES. IMHO.
ALSO if we do print a +3 % GDP 4th Q 2011 and the outlook remains positive for 2012 from a GDP standpoint then the market should get back above WITH SUPPORT the SPY 200 DMA. Some people on this message board need to stick with the basics and not all this mumbo-jumbo. IMHO. James.