ETF Prophet

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Mr. Ice

The SPX 500 just finished the week above 1500, a mark it had not closed above since 2007, up 7 straight days.  The stochastic is embedded showing a strong trend.  Earnings are decent and like how we started 2012 the market had gone straight up.  With the aid of global and domestic monetary easing, equities are hitting highs around the world.  We have the month end markup and FOMC next week; both potentially bullish catalysts to push us higher.  On the upside we have 1520 target and 1470 on the down side will have the dip buyers eager to reload longs.  With the end of day buying imbalance waning and some sellers creeping up, will we get the long awaited pull back?

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