Market Update – Charts
11:41 America/Los_Angeles 15 Jun 2010 
3 Comments
The market was able to confirm its uptrend recently despite some bearish items. Some of the bearish items are flailing financials, weak IWM (Russell 2k), relatively weak tech, and very low volume with the uptrend. These items are a concern and are the reason we are not completely sold on the new uptrend, but we will still have to respect it. The next couple days will be telling if the bulls can hold on to start a viable uptrend.
Below are 3 charts of the market (SPY). A short term (2 week), mid term (6 month), and long term (4 year) chart showing mark ups that I made.
Thanks for the charts! They are definitely squeezing the shorts these days.
The computers are definitely back online with the slow chug upward and sqeezing the shorts along the way.
Well keep in mind that just one week ago we were more than 7% lower at around $104 on the SPY. Its amazing over the course of a non eventful week what can happen in the mindset.