Monday, October 26, 2009
All Eyes on 1050 in the S&P Cash Index
Above is the ascending trendline I was talking about in the S&P cash index since the March lows. Sometimes I post things too quickly and don't realize my miswording until after I post it, so the email subscribers get the uncorrected errors. I am working on getting in the habit of triple checking my work before posting now that I've started sending email updates; so please bear with me.
The above chart shows the 1050 S&P cash level as to where the trendline meets today. A strong close beneath that leel, and holding beneath it for a few days after, will be a strong signal that "the crash" is underway. Until then, we wait.