SPY 2002 Market Bottom v. May 2009 (Charts)



Look how the S&P ETF (SPY) bottomed out during the 2002 recession and how it compares to today. Even though today's recession is much worse than 2002 look how SPY based out with a double bottom and a higher low retest. It looks like we are due for a correction unless the black swan is a very steep V shaped recession. SPY volume has been weak but relative strength is breaking out hitting levels not seen since May, 2008. We're around ceiling and 200 day resistance at $95. Quiero dinero efectivo ahora. May puts getting killed!


SPY 2 Year Chart (Stockcharts.com)

SPY 10 Year Chart (Bigcharts.com)


SPY 2002-2003 Bottom (Bigcharts.com)