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Anthony Walters posted this 16 October 2012 (Oct 16, 2012 4:43 PM).
End of day data - S&P 500 Close (line chart, not candles):
26/09/12 1433.32
12/10/12 1428.59
I was highlighting this to suggest why others could be short-term bearish/predict an October correction in the S&P 500. I agree that the general uptrend is still in tact although in this instance I was looking for reasons as to why some may be short-term
bearish.
I'm not personally trading any positions right now for several reasons.
Jason Else posted this 16 October 2012 (Oct 16, 2012 3:12 PM).
Anthony.. Lower lows? But the uptrend is intact!
Attached SPX chart from June.. we obviously see different things...
Anthony Walters posted this 16 October 2012 (Oct 16, 2012 9:14 AM).
I stand corrected (thanks Anton). That'll teach me to post late at night after a long day...
Anton Kreil posted this 16 October 2012 (Oct 16, 2012 7:08 AM).
It was Long Hang Seng / Short S&P500 and within U.S. mostly defensive longs over Earnings season.
Anthony Walters posted this 15 October 2012 (Oct 15, 2012 10:19 PM).
e.g. one of the first positions mentioned on this week's trader meeting is short S&P 500.
Anthony Walters posted this 15 October 2012 (Oct 15, 2012 10:09 PM).
Some were bearish, some are staying out of the market and in cash predicting an October downturn.
Since 26th September the S&P 500 has paused and made lower lows for example.
Jason Else posted this 15 October 2012 (Oct 15, 2012 6:03 PM).
Long again? The uptrend was never broken. Remaining net long and have been positioned this way since June.
Other leading economic indicators have been pointing North since May. Dangerous to look at single PMI figures in isolation.
Anthony Walters posted this 15 October 2012 (Oct 15, 2012 4:54 PM).
AAII sentiment has turned more bearish. Coupled with positive PMI data it could be time to start looking long again.
Jason Else posted this 15 October 2012 (Oct 15, 2012 12:16 AM).
Everyone getting bearish again.
I'm actually favouring some Long China exposure at the moment....
Yuan Long posted this 12 October 2012 (Oct 12, 2012 7:59 AM).
SPX correction ?
