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TFC Commodity Trading Forum

Re: S&P Breaking out to the Upside/Silverbear

The market will sell off once everyone and their dog becomes BULLISH and says there is nothing but blue sky ahead. Until then its up up and away it seems. Even the bulls are bearish with tons of money on the sidelines. Geez, I can't find a bull out there to read about. EVERYONE of them including fund managers are talking about at least 'taking some money off the table'. Not surprising the market continues to rally with everyone on one side of the boat. And more technical bearishness is the transports down with the Dow up. Plus today 45 companies reported earnings and 40% of them missed their target! Don't the funnymental types claim the market sells off then? So much for funnymental b.s. Amazing what people will believe. This market since Dec just keeps going up and doesn't give a crap about technicals or funnymentals. Price is king. Gotta see that breakout pt at 1344 breakdown to see a serious selloff. Mind you that will likely happen in one day at the open and blow everyone's mind and then start trashing the bulls,lol. The market wants everyone's money not just the bears its been eating since Dec. It's baiting everyone until they are all long once again..........sad but true. P.S. Watch that downtrendline on ABX at 40 for a breakout and the CEF downtrendline around 22.30 as well. CEF is in a bullish falling Wedge from late Jan. Need to see a breakout there or tag of the lower line. Either one is a buy from my view. Unfortunately the Silver/Gold Ratio chart isn't improving suggesting anything bullish yet which surprises me. May be early for it all but that does need to improve.