S&P 500 BREAKS OUT: SO DO WE THROW A PARTY FOR THE REBELLIOUS TEENAGER?

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          And what exactly did you say a chart BREAKOUT looks like?  

The S&P 500 broke out above its 200 SMA (TANKS) today to join the NASDAQ.  The DOW tapped its 2oo TANKS intraday and then pulled back. The move by the S&P was its first move above the 200 TANKS in 359 trading days!  This on a day when GM declares bankruptcy. 

Have you not figured out yet that the market acts  just like a rebellious teenager and does just what she wants to do whenever she wants to do it!?!

SHOULD WE BREAK OUT THE CHAMPAGNE?

A SIGN OF RECOVERY?

AND THE BEARS SHOULD NOW BE BULLISH? OR GET SLAUGHTERED?

FORGET ABOUT GM. IT IS THE POSITIVE NEWS THAT MATTERS NOW!

WHAT HAPPENED TO SELL IN MAY AND GO AWAY?  SELL IN JUNE AND GO AWAY?

BUT ARE WE THERE YET?

So, is this the MISSILE LAUNCH I spoke of last week or is this another FALSE ONE?

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