The 10 day MA on the SPX has held all of the intra-day lows for the past 7-8 days . . . The last two days have "lifted-off" out of a small consolidation. Tomorrow's action will be key. Need to see continuation. 1253 level is the next target on SPX.
I have thought about this too for a few weeks now, sort of a Y2K effect for Greenscam. Also remember years ending in 5 have been big up years for a century Anyway don't try to understand. I am thinking as traders we should relish raging bull markets not wish their demise but that's what we usually do. It's a paradox since bull markets present a lot more money making opportunities. In a mania market get your clueless wife to buy some momo stocks she might make more money than you while the market goes ballistic.
matter of fact..... he did http://www.newyorkfed.org/markets/omo/dmm/temp.cfm and he continues to... all aboard $$
It's difficult to come to terms with the fact that the market can stay irrational longer than we can stay rational. And who says the markets are'nt manipulated?
I'm waiting for Iceman to chime in...lol...He has some of the all time best rants... The manipulation issue is like debating religion or politics. Either you believe in it or you dont. I have seen some pretty nasty arguments when both sides go at it.
You ever hear the saying "While it took 100 years to build something, it can be destroyed in less than one day". Well, I sense a coming fall but 90% of my trades in the last two weeks have been longs... go figure. I really don't care which way the market goes but I would LIKE to see some strong downmoves. I personally trade with better success on the short side. Mike