How far this rally can go ?

Discussion in 'Trading' started by madmaxer, Mar 13, 2009.

  1. How far this rally can go . Today we passed Nov low. I know that this is a strong rally, but how far we can go higher before a correction? I was looking at 60 min chart and I see any time during the last year we pass RSI 70, market had a nice correction, today Market closed on 60 min RSI 73 and is on a major resistance, But will we break these levels in the next couple of days ? what do you think ? if yes how far higher we can go before a correction
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  2. Whose opinion are you gonna rely on? some 'expert' here or on tv ? Are you gonna go with the general concensus bearing in mind the majority are wrong?- hey, there's an idea,you can fade them. Here's my take on it (bear in mind it's 100% worthless to you) Sell friday morning high,buy monday low,probably very late afternoon.As to the rally...thats all she wrote
  3. 1. US Gov Debt CDS insurance tripled from last year
    2. Gov officials talk up stocks (obama is like a wall st jerk)
    3. All bank CEO talk up their junk stocks
    4. Treasury shorted and squeezed immediately
    5. ... combine the picture ...
  4. Depends on the news. Just MHO.
  5. Bernanke is going on TV Sunday, I'm looking forward to the commercials.

  6. We have a rally back to the Nov low.
  7. A look at closing prices. Yesterday we closed at the Nov low on the SP500 cash index.

    Are we going higher remains to be seen. It is the end of Q1 so anything can happen, maybe we do get some window dressing so half the country doesn’t commit suicide when the open the quarterly statements.
  8. DJI heading to 8100 IMO
  9. This is going to be the mother of all bear market rallies. Prepare the troops and allocate accordingly. **

    ** this information is based on the author's opinion that the market will go up and then, and only then, will it decline.
    #10     Mar 13, 2009