Market started pretty well this year, with SPX moving above the downtrend line and making a fresh higher high today. Even better the weekly DMI is almost positive for the first time since July. EMA 20 is also almost crossing EMA 40 from bellow on weekly chart. In the end the whole drop seemed to be only a big scare.
Daily DMI continues to stay positive but long term players still need to wait for the "golden cross" to happen (SMA50 crossing SMA200)
From now on I am expecting less volatility, maybe we are going to have a nice leg up so we can all make money in a easy way (if there is such thing as easy way in stock market). Keeping this in mind I am coming back to the hourly chart, that didn't give good entries and exits last year but I have great expectations this year.
I am sorry I couldn't write a message at the right time to suggest a good entry, either at 1250 when EMAs crossed on hourly chart or most recently when SPX moved outside of the "symmetrical triangle". However, if weekly DMI turns positive as I am expecting, then a multi-months rally has probably started and will be enough time for everybody to make money.
On Market Watch I even heard speculations about QE3. If this happens soon then the stock market is going to fly on the upside together with gold and (maybe) silver. At the moment gold is also in a "symmetrical triangle" formation. Any break outside this formation most likely is going to trigger a big move.
Daily DMI continues to stay positive but long term players still need to wait for the "golden cross" to happen (SMA50 crossing SMA200)
From now on I am expecting less volatility, maybe we are going to have a nice leg up so we can all make money in a easy way (if there is such thing as easy way in stock market). Keeping this in mind I am coming back to the hourly chart, that didn't give good entries and exits last year but I have great expectations this year.
I am sorry I couldn't write a message at the right time to suggest a good entry, either at 1250 when EMAs crossed on hourly chart or most recently when SPX moved outside of the "symmetrical triangle". However, if weekly DMI turns positive as I am expecting, then a multi-months rally has probably started and will be enough time for everybody to make money.
On Market Watch I even heard speculations about QE3. If this happens soon then the stock market is going to fly on the upside together with gold and (maybe) silver. At the moment gold is also in a "symmetrical triangle" formation. Any break outside this formation most likely is going to trigger a big move.
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