The Wile E Coyote correction:I'm referring to the price action on the sticky S&P500 chart at top of blog. It's been suspended in the air for many months just waiting for gravity to take hold... Originally posted Feb 16, 2011 : When DOW/S&P500 correction gathers momentum I expect: UP ~ USD, various USDXXX currencies, VIX Index DOWN ~ EURUSD, AUDUSD, NZDUSD, GOLD/SILVER, Base metals like COPPER etc, CRUDE OIL Don't listen to irrational trolls in denial.
QE3 should be announced by next week! Get ready for another propped up market! Market is down too many days in a row, Bubble ben bernanke cannt take the market dropping like this so its time for QE3!
Buy the dip, this market has done this same drop about 3-4 times already and every time it looks like the SPX is going to break its March lows it jumps 5% out of no where, so I believe the same thing will happen, the catalyst: raising the debt ceiling!!!!! SPX at 1286! Get ready for 1340+ once the debt ceiling is raised!
They are buying the dip!!!! Get ready for the ultimate rally!!! This market according to the talking heads is oversold, biggest weekly drop in over a year, which means the biggest weekly rally is coming very soon.
New intraday highs! SPX 1292 Close above 1300, at least an 80% chance today. How funny would it be if the debt ceiling is raised this afternoon, I think its extremely possible.
President is speaking in a few moments, this is going to get really interesting...REALLY INTERESTING!