Lowest Reasonable Target For SPY Pull-back

projecting SPY 116 by Apr 27

 

typo, you mean 126.

 

i should add that this is my optimistic projection. i don't believe this market will ever go down. maybe in 2011.

 

A good target would be a 2/3rds retrace of the rally since march.

This goldman news just delayed the blowoff top by 2 to 3 days. Parabolic no volume rallies don't end on bad news. They end on no news, violently.

 

yes, i am starting to think that GS news just confused everybody. to my naked eye it appears that the market will have hard time breaking last week high, but maybe i am to biased.

your target seems to be around 115.

 

any thoughts on the pattern(s) we are seeing in ETFs over the last 4 days? XLE is different from the other 3 in that it broke the recent high. the others have doji today with filled (QQQQ) or unfilled gap (SPY, XLF).

 

Bulls are still nibbling at any dips. when does a bull become a pig?

 

Last 25 minute rally coming right up as usual!!!!


Here comes the prop job!!!

 

Congrats to the one guy that voted for 118. You got it right!!!!

 

nice turnaround today! QQQQ made new high, the other major ETFs did not. is it reasonable to think that the top is not in place until QQQQ suffers a major breakdown?