An Alternative Point SPX500 Will Correct to Before Going Backup

IMHO, SPX500 is very unlikely to go any higher until at least visiting the 2240-2250 range once.

Kommentera:

OIL is looking good. I continued to accumulate oil and oil stocks lately. Oil has the power to move the general market these days as higher oil price and demand are seen as signs of a healthy economy.

So if anything can save the market now, it has to be OIL. OIL right now has at least 3-4 weeks to run up so SPX500 will most likely either be slight up or sideways in the meantime. Wait for OIL to drop before shorting the general market.

Kommentera:

The general market is getting weaker and weaker...

Get ready. This week could be ugly.