Nothing Can Kill This Market

Posted by UpsideTrader
on November 7th, 2011

S&P Daily

The S&P is trying hard to retake the hill and take back that 200 day moving average (yellow line).

S&P 10 minute

Around 2PM (10 minute chart above), there was a monster spike in the S&P $SPY. It was the result of what I thought was a garbage headline out of Europe, I still think that, but the tape wants higher it seems, no matter what.

From 10,000 feet, Europe looks to be on the brink, a closer view though makes you think the bulls will take it up regardless. This market is like the poor kid in high school who constantly gets bullied, at first he falls apart from the attacks, but later he becomes numb to it, maybe even stronger as a result. Stay tuned, maybe this bullshit tape can finally get going.

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