SPX WEEKEND REVIEW

     This week that just ended was a very lousy and frustrating one with all the back-and-fill and no movement. Next week is setup for a drop and will be an exciting one. I believe the market is in a bull fakeout. Don't be on the wrong side of this trade. Not time to be bullish at this level. Down leg coming. I say this not based on the economic data which has been looking really good recently but based on technicals. I'm a technician not a fundamentalist. I hope economic data keeps coming up strong. The world needs it.
     Though far from perfect, US economy looks to be gaining footing (I don't know if it will last though if Europe goes into recession/depression). No one in their right mind should expect perfection or excellent numbers. The trend is what matters at this time, even though I expect perma-bears to twist everything to appear negative by comparing every good data with perfection and say how "REALLY BAD" good data is in order to console themselves of how bad things are, while wishing for an economic  collapse but appearing to the concerned. Keep it mind that NO ONE is safe in a depression. The rich become the target for any chaos, unrest or destruction that takes place. I know there are too many people hoping for economic meltdown because of political or other SELFISH/USELESS reasons. Be careful what you wish for (whether you are poor, middle class or rich).
     Europe is key at this point in determining global economic outlook. Stabilization of the debt crisis is key. As Europe goes, so goes the world because the global economy in very intertwined. It's holding the torch at the moment and therefore the limiting factor.

SPX-WEEKLY

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