Failure at 1340 will set off a major sell signal which will snap the market back into reality and will shut up nine ender for a few days at least and that event, the quieting of nine ender will spark a major correction.
Cotton sells off. Tthe underpants gnomes are making a killing by stealing cotton underpants and selling it at higher prices than a year ago. Their new found profits is the reason this market does not sell off.
hahaha, love this thread. Hey I just had a bullish thought. What IF (IF IF IF) the "deception" that mr. Market is playing is that instead of that this is a mania induced by QE2(3,4,5,6) the stock market is in effect recovering on its own and when QE ends nobody will give a shit cos the economy is rippin' and recoverin'? That wud be sumfin...
Hate to disappoint you but we are going to 1400 minimum by early April. Sometime in April we will make an intermediate top followed by a fairly flat to down summer. I further predict a lot of traders will be bitching in the summer about low volumes and how hard it is to trade. Meaning those traders who didn't participate September to April in this rally are going to realize they missed a tremendous opportunity to trend trade and beef up their accounts. ps This month has been my most profitable month since March 2009.
US GDP of 3.7% and Philly Fed # of 38. There is your evidance. The market paid attention even if you didn't.