Well, we open this week within 30 points on the S&P 500 from the 200 day SMA on the index.

And there was an interesting bearish cross on the daily chart of the SDS last week, as the 50 day SMA crossed below the 200 day SMA. Could this signal a further bull run in general?

On a technical basis I think we're going to pull back on the S&P 500, but not much. The pull back will allow the 50 day and 200 day SMAs to move closer together, and then the 2nd surge should come.

So if you're like me, and you missed the first rally in your 401ks Index funds, I think you'll get another opportunity this year. How long it will take, I'm not certain.

Watch the charts, they don't lie.

Comments: View Comments |  Monday May 11, 2009