an tSionna 7.26.10

I have a busy chart for you today that shows a breakout in S&P spyder.   We may chop around now for awhile due to being shorter term over bought by our work.  Probability right now though indicates a reasonable likelihood that stocks could continue their advance for a bit given these breakouts and some of the other indicators we are seeing.  {See Friday's post below}.

At this point I wouldn't discount some seasonal weakness in the August-September period and as always something could come out of the blue {natural disaster or foreign policy crisis for example} to render these thoughts moot.  However again as discussed Friday, we are beginning to see a lot of things fall into place suggestive of better things for the next six months or so.

*Long ETFs related to the S&P 500 for client and personal accounts.