Market Setup for a Potential Surge
17:04 America/Los_Angeles 03 Jun 2010 
6 Comments
The bulls have the market perfectly placed right on the 200 day moving average ready to break it out on some phony jobs numbers that are a lagging indicator. We will have to see if this will be the case when the report comes out tomorrow morning and evaluate our position with the Naked Hedge Fund which has been short since late April.
Below is a 1 year chart of the SPY showing the 200 day moving average and the setup for tomorrows open.
1 Year SPY with 200 day moving average
Or maybe the market gets rejected by the 200 day moving average!
I hate the jobs numbers day
Wow. Bernie looks like you had it. I was pleasantly surprised this morning with the market drop. Our short position is still looking good.
Im surprised that gold isn’t rallying hard.
The best part about the disappointing jobs numbers is all the disappointed cheerleaders on CNBC… they all look like someone pissed in their cheerios this morning.
This market is ready to be juiced and break to new YTD highs… once the computers take over again like this whole year
There we go… now gold is picking up