S&P 500 Down 4 days in a row ????

S&P 500 is down 4 days in a row.....

What is the technical picture of S&P 500.....

Volume was low on day 4 as selling has dried up..which is a good thing !!!

Here is the digital image of S&P 500 for last four days :

Closing High 1030.98 Thursday

Closing Low 994.75 Wednesday

Points lost <36.23>

% loss <3.5%>

This fits with normal pullback of 3% which is always anticipated......

Based on Today's close of 994.75...we are still UP 49.18% from March low of 666.79......SO...if you do nothing & sit back you are doing mighty fine.....so my cheer leading is not based on FICTION...it is the TAPE.......

RSI on S&P 500 is 47.50.....oversold reading

This is NOT a market to "over-trade"....conviction with KEY position MAY not be a bad idea....

This market HAS trended UP for last 5 months straight.......being "nervous" based on CNBC "bear drum roll" has NOT worked......

TAPE is saying that economy will get better MORE than Roubini,David Rosenberg can predict.....their S&P 500 target has been exceeded by HUGE % already and MORE to come....economists are NOT expert on market cycle.....

Make sure you ARE comfortable with your OWN due diligence & stay diversified in different sectors....

AG were strong today on many notes from analyst who are trumpeting takeovers for POT,MOS & IPI....

AH Futures are almost FLAT

AH Oil is UP 31 cents

AH Gold UP

AH Silver UP

BLOG does NOT give buy or sell.

Saleem