Investors have been having concerns over the earnings. If that carries over into Monday, the market could open lower. See you came up with a list. But, that's not what is needed now. Maybe a stiff shot of scotch would help some of those that are holding positions and trying not to think about it. Make that two shots of scotch.
i actually had this discussion w/ my colleagues sometime after Christmas saying the probability of a market correction after the New Year was very high ... Looking at the daily charts on most indexes, i would have to say the 200 DMA is in the cards... and would in turn, be healthy for the market .. my .02
I love this thread. Some cajones daytrading 7500 shares of ebay but with leverage of options. I'm not going to try that one! Anyway, in all the "trader" posts at yahoo finance and hard right edge etc these guys were saying needed a market correction all last month. Well at the moment looks like we are flushing everyone who wasn't smart enough to buy at the end of october. But I really don't know I have a lot to learn. Thanks all who contribute some interesting info here.
From a technical perspective that could be plausible. On the 2-year chart I see that the market has pulled back from resistance at the Jan. '04 high (Nasdaq Comp). Would breaking through that resistance create an overbought condition and result in sharp sustained correction? I can speculate about that, but what the big money is saying is what will inform me. One investor said on tv, that his firm was mostly in cash and waiting for the earnings reports to be in, to decide what to do.
The real question for me is: are investors going to jump in again and do another wave of buying that would rally the market into May or June? That would be good for long side daytrading.
I have many friends and relatives with investments so I really dont want to see the market take a dive but on the other hand I do much better trading from the short side than the long. So if it goes back up Ill be happy for the country if it goes down Ill be happy for my equity curve.
i tend to think the indexes will test the 200 dma without a doubt ... most likely we will bounce at these levels, but will earnings going forward, plus higher rates, and of course the possible real estate bubble... be enough to sustain a continued market rally ... the charts speak for themselves ..
Yes, I agree.. my targets for the nasdaq are: if broken below 2030: down to 2000-1980 also, I just noticed the PERFECT elliot Wave...see the chart
"January's Powers" and "Risk to the Downside" are two recent takes on the current market: http://cbs.marketwatch.com/news/newsletters/default.asp?siteid=mktw&dist=LAtab Every market genius, stocks guru, and card reader/consultant are working on it. But, I'm really thinking about a nice uptrend with plenty of volume gain, come Monday. I'll be looking for one.