Hmm.... quite interesting.... Clearly I have missed something between this thread and the one mentioned in the post above...
I believe he'd pass a polygraph regardless. Nitro is the only type of phony with the ability to get past me undetected, because if he whole-heartedly believes what he's saying, is it really lying? He's just the world's most optimistic man, actually believing he 'has' things he never had. I'd take delusional optimism over soul-sucking pessimism any day of the week, wouldn't you?
speculation has nothing to do with trading over the long term, the market will decide if 1600 holds or not no one knows what the market will do . the only thing you know is ... is there an up trend or a down trend and over what time frame.
World Bank cuts growth forecasts http://www.guardian.co.uk/business/2013/jun/13/nikkei-stock-markets-world-bank-growth-forecast Hard to gauge, but I estimate the market has priced in only 50% to 75% of this news. I estimate the other 25% to 50% or so is worth between 5% and 8% lower for SPX from today's close of 1626. 5% would put it at support 1542. 8% would put it very close to my target of 1480 and near strong support at 1472.
What Japan Can Teach the Fed About QE Addiction http://www.cnbc.com/id/100813567 The similarities are eye-popping.
FOMC will be another non-event. They will announce the same pace of bond purchase and the same interest rates. They may say inflation signs are appearing but remains well below the threat of 2.2. Unemployment at 7.6 instead of 6.5 and this FOMC is not even worth paying attention to. Stocks will probably ring [up and down] for about half and hour and end higher, towards their ultimate resting stop of 1672 sometime soon [EOM?].