200SMA is one of the most import gauge for long-term bear/bull market. Today it is broken. So, the market either enters a long-term bull market or makes turning point of this bear-rally. If this breakout is real, then the US economy should start to recover in ~3 months. Obviously, the fundamentals of economy do not support this hypothesis. So, bears, the worst is over. Take it easy, have a good sleep and relax, today's breakout is much more a turning point. Bears will be prosperous through the end of the year. |