Bulls are gunning for those FOMC highs, or more if it goes above that. See no good reason to sell before that, buyers need to exhaust themselves before this has any chance of moving back down.
Even so, Im putting on more short positions....... Nothing has changed the last few months to give this market new highs.....there is ZERO LEADERSHIP in this market.... Layoffs from big companies announced the last couple of months, CAT even warned and job losses mounting higher and higher.....only thing thats left is H O P E!!!
Apple sells a record 13 million iphones last week and the stock doesn't even show it sold 3 million iphones.....Im thinking this stock is waiting for earnings to make its run to either the downside or upside depending how the markets like their earnings of course...
I am just banking on monthly chart, IMO this upside party will stop at 20ma, just like it has previously.
IF you have profits from buying the dip last week start taking them......600+ point swing if you caught some of that bottom on Friday morning....
this is what I mean.....this guy says the worst of the stock selling "may be behind us" so markets up over 225% in 6 years, they sell off for about 2 months and don't even touch bear market area and this is what he considers the "worst of the stock selling" HAHAHAH IS that so.... If they think this is bad they haven't seen anything yet....this fall is nothing compared to what is coming....I can't wait to see what this guy says when the dow is sitting pretty under 14,000. The worst of stock selling may be behind us: Bob Doll Tom DiChristopher 1 Hour AgoCNBC.com Investors are still in the midst of a "muddle-through" economy, but the worst of the stock market disruptions may be over for now, Nuveen Asset Management's Bob Doll said Monday. "I think the selling looks like for the moment it's exhausting. Wednesday was a nice rally. Friday was a nice rally. Many technicians say it's the first successful test of the August problem," Nuveen's chief equity strategist told CNBC's "Squawk Box," referring to August's equity market sell-off Investors should not expect the market to go straight up, but "maybe the worst is behind us," he said. The Dow Jones industrial average, S&P 500, and Nasdaq all ended last week positive after surging into the close on Friday. The Dow turned in its biggest reversal in four years, swinging 459 points. Doll said markets had recently hit a secondary low after August's primary low. He warned that markets may yet need to touch a third low before they can head higher. Earlier on "Squawk Box," Hilltop Securities managing director Mark Grant said Friday's rally was not due to any technical evidence of a bottom, but to the market perception that the Fed would step in to save investors following a disappointing monthly jobs report. Read MoreFed is now 'abject follower of the market': Sri-Kumar The economy is currently mid-cycle, and investors should expect good news and bad news to compete for their attention, Chris Hyzy, chief investment officer for Bank of America's global wealth and investment management business said Monday. He told "Squawk Box" the market is "in limbo," with positive U.S. consumer data being offset by crises in emerging markets, from which investors have withdrawn money in 12 of the last 13 months. While sentiment is at a multiyear low, investors should bear in mind that the U.S. economy is on track to grow 2percent this year, and perhaps as much as 3 percent in 2016, Hyzy said. "It's going to be very hard for the emerging market growth slump, and it's a big dent, to be exported to us to take us back into the same type of slump," he said.
thats what happened on September 17th, but the entire market broke down, I know you would say that the fed was related to that break down but I have to disagree in that nothing has changed since that meeting.