Here is what NFTRH102 (available here as a sample for months now; a newer one should go up soon) had to say on September 19, 2010:
SPX did more than "eek out new highs", and this got the momo's quite enthused. It is important to ask 'what were they saying then?' with regard to the bull trend managers of today."
Speaking of today, SPX is now in a precarious position and in a lousy risk vs. reward. Everybody sees the wedge and if we are lucky enough to continue down (probably after a struggle to maintain these levels) the herd is going to go full momo in the other direction. Ah, but will that be THE bearish opportunity? I am not so sure, because I have found it is better not to make decisions ahead of time. I'll let this mess come to Papa, and state its intentions at the appropriate time.