Wednesday, April 17, 2013
Does it mean top? I don't know but to be long here is not wise. The market may want to test that trend line again before deciding it's next direction. I still have tons of long positions I been holding for months but I am seriously considering getting into cash any maybe buying some Jan 14 SPY puts. 1st chart connects the 99 and 07 highs. 2nd chat is a 10 min shown the market's reaction to the line.. Still too early to tell but this could be one nasty correction or worse.