In my opinion, the reason this month is the biggest percentage gain since 1974 and the 9th biggest percentage gain of all time is not because anything special happened in the economic. As a matter of fact, the economic data were coming out bad when the rally started (but have been looking better recently), serious talks of another recession and Europe debt problem was still the elephant in the room. The reason for the rise was because the sharp drop that occurred from late July till early August was an artificial move caused by congress playing stupid politics with the economy/market about raising the debt ceiling thereby sending shock wave in the market by creating uncertainty. It was not a real (technical) move. As a result, we see this strong bounce to compensate for the market shock. Once the process is complete, the market will return to its stable level and continue in its real direction (bullish or bearish). If the big drop was technically driven, we would have seen much lower prices. But it was actually a congress-induced Bear Fakeout. Too bad they misjudged the market's potential. LET THE MARKET MOVE ON ITS OWN WEIGHT (you can only hold a coiled spring down so long till you let go).
You don't have to agree with my opinion. We can agree to disagree. At least we have something in common i.e to make money. So just look at the charts and forget this crap i'm saying if you don't agree.
SPX-WEEKLY
SPX-DAILY LONGER TIMEFRAME
SPX-DAILY
SPX-30MIN LONGER TIMEFRAME
SPX-30MIN SHORTER TIMEFRAME
