I'll still need 1168 to be hit or I'll need a longer term buy signal before I will look at any longs. I must say, the market in recent weeks has absolutely been a trend follower's dream. These moves are what I live for. --Extremely easy market conditions to trade in.
Oil traded back to 80, dollar had gone to 80, goog touched 250, s&p traded below 1200. Markets are where they need to be to start a new cycle.
If they want to avoid a worldwide systematic failure, the mkt have to rally all its way back up to 920 or higher before noon. That can help boost the sentiment over the weekend.
Looks like consolidation for another 30 points up. (889) Edit: (909) and (919) Edit: That was one pretty good guess, we sold off from 921....
looking for a test of 960.. today. monday ..tuesday further rally attempts. Dow will get to about 9400 before it hits resistance.. Basically the CB's can print a trillion dollars in combined funds. Look at the size of interventions in the currency markets. A pooled hedge fund can lock up the open interest in the derivatives pool.. Anyone who is short will have to deal with dwindling supply in the market and price gets locked limit up. This world wide turmoil could have easily been intervened, it was allowed to happen to subdue Russian aspirations and inflationay pressures.