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S&P Gaining Momentum - Bears Yet To Feel The Squeeze

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August 12, 2011 – Comments (2) | RELATED TICKERS: SPY

We're waiting to see who is going to blink first - the bulls have the early momentum, but the bears are employing a "bend-don't-break" mentality. But eventually this slow melt up will create an inflection point, that will likely cause the bears to run for the exits ahead of Tuesday's meeting and the weekend ahead. 

We've got a two-day trend in place, and a nice push above key support when looking at the E-Mini S&P Futures. 

Here's the S&P Futures chart.

2 Comments – Post Your Own

#1) On August 12, 2011 at 12:34 PM, chk999 (99.98) wrote:

So what happens when Greece and Spain default and the European banks gets hammered? Melt up?

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#2) On August 12, 2011 at 3:43 PM, L0RDZ (84.26) wrote:

Can't wait  for that bull to  slam the bears back against its knee  and  listen to that back break like snap crackle and pop...  :)

Can't wait for them computers to go wild on the upside...  Can't wait to hear people complain... about the market actually going up  than down.

Can't wait to count that money when the trading is done...

 You can't be scared...

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