Thursday, July 2, 2009

Scary tiiiiimmmeeee! 85% cash!

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Ok, so I was messing around this the S&P 6-month chart today, and came up with what you're looking at.

I have never drafted a chart that looks so damned frightening.

Ichimoku resistance and short-term resistance levels in the 980s are coming up.

Head and shoulders just resolved.

I believe this could really crap out... so to usher in this potentially bearish move, I went into mostly cash, and will be day trading bearish ETFs for the next while.

Good luck to everyone, and I hope I'm wrong! (Not really).

P.S. Tenkan crossed Kijun from above to below... which is also an additional bearish indicator.

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