S&P 500

Wow we got a great week that bargain hunters must be feeling great with their purchase last week.

The good

For the longer term investors, are we out of the woods yet? I find that currently, we can be in the same situation at May 2008. The Market made a strong push up from March to May before heading down what was to be the worst of the drawdown.

Based on the weekly moving averages, the 17 Week EMA looks ticking up. A strong month from now could see the 17 Week EMA cross over the 43 Week EMA. A strong push like this could see us continue the trend up higher.

A reversal of the PMO above 0 and the consolidation of the moving average could be very very bullish and lucrative

The bad

However, our lesson from May 2008 shows that this could turn down as ...